OFG Bancorp (OFG) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-12647
Entity Registrant Name	OFG Bancorp
Entity Incorporation, State or Country Code	PR
Entity Tax Identification Number	66-0538893
Entity Address, Address Line One	254Muñoz Rivera Avenue
Entity Address, City or Town	San Juan
Entity Address, Country	PR
Entity Address, Postal Zip Code	00918
City Area Code	787
Local Phone Number	771-6800
Title of 12(b) Security	Common shares, par value $1.00 per share
Trading Symbol	OFG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,601,548
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001030469
Current Fiscal Year End Date	--12-31

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and due from banks	$ 1,849,906	$ 2,014,523
Money market investments	5,648	8,952
Total cash and cash equivalents	1,855,554	2,023,475
Restricted cash	175	175
Investments:
Trading securities, at fair value, with amortized cost of $163 (December 31, 2021 - $162)	18	20
Investment securities available-for-sale, at fair value, with amortized cost of $903,798 (December 31, 2021, amortized cost $503,421); no allowance for credit losses	880,338	510,713
Investment securities held-to-maturity, at amortized cost, with fair value of $329,969 (December 31, 2021 - $363,653); no allowance for credit losses	359,806	367,507
Equity securities	18,556	17,578
Total investments	1,258,718	895,818
Loans:
Loans held-for-sale, at lower of cost or fair value	58,234	82,662
Loans held for investment, net of allowance for credit losses of $157,075 (December 31, 2021 - $155,937)	6,390,896	6,246,649
Total loans	6,449,130	6,329,311
Other assets:
Foreclosed real estate	15,297	15,039
Accrued interest receivable	56,097	56,560
Deferred tax asset, net	87,608	99,063
Premises and equipment, net	97,403	92,124
Customers' liability on acceptances	29,858	35,329
Servicing assets	49,446	48,973
Goodwill	86,069	86,069
Other intangible assets	33,947	36,093
Operating lease right-of-use assets	28,576	28,846
Other assets	142,242	152,845
Total assets	10,190,120	9,899,720
Deposits:
Demand deposits	5,504,640	5,204,340
Savings accounts	2,295,113	2,177,780
Time deposits	1,178,469	1,220,998
Total deposits	8,978,222	8,603,118
Borrowings:
Advances from FHLB	28,035	28,488
Subordinated capital notes	0	36,083
Total borrowings	28,035	64,571
Other liabilities:
Derivative liabilities	191	804
Acceptances executed and outstanding	29,858	35,329
Operating lease liabilities	30,287	30,498
Accrued expenses and other liabilities	83,492	96,240
Total liabilities	9,150,085	8,830,560
Commitments and contingencies (See Note 19)
Stockholders’ equity:
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 48,673,113 shares outstanding (December 31, 2021 - 59,885,234 shares issued; 49,636,352 shares outstanding)	59,885	59,885
Additional paid-in capital	633,796	637,061
Legal surplus	121,389	117,677
Retained earnings	426,320	399,949
Treasury stock, at cost, 11,212,121 shares (December 31, 2021 - 10,248,882 shares)	(180,717)	(150,572)
Accumulated other comprehensive (loss) income, net of tax of $3,007 (December 31, 2021 - $1,328)	(20,638)	5,160
Total stockholders’ equity	1,040,035	1,069,160
Total liabilities and stockholders’ equity	$ 10,190,120	$ 9,899,720

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Trading securities, amortized cost	$ 163	$ 162
Investment securities available-for-sale, amortized cost	903,798	503,421
Investment securities available-for-sale, allowance for credit loss	0	0
Investment securities held-to-maturity, fair value	329,969	363,653
Investment securities held-to-maturity, allowance for credit loss	0
Loans held for investment, allowance for credit losses	$ 157,075	$ 155,937
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	59,885,234	59,885,234
Common stock, outstanding (in shares)	48,673,113	49,636,352
Treasury stock, at cost (in shares)	11,212,121	10,248,882
Accumulated other comprehensive income, tax	$ (3,007)	$ 1,328

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest income:
Loans	$ 107,565	$ 108,205
Mortgage-backed securities	4,321	2,041
Investment securities and other	1,063	730
Total interest income	112,949	110,976
Interest expense:
Deposits	7,041	12,024
Advances from FHLB and other borrowings	193	459
Subordinated capital notes	521	295
Total interest expense	7,755	12,778
Net interest income	105,194	98,198
Provision for credit losses	1,551	6,324
Net interest income after provision for credit losses	103,643	91,874
Non-interest income:
Banking service revenue	17,562	16,497
Wealth management revenue	7,857	7,388
Mortgage banking activities	5,782	5,573
Total banking and financial service revenues	31,201	29,458
Other non-interest income	405	955
Total non-interest income, net	31,606	30,413
Non-interest expense:
Compensation and employee benefits	34,768	32,618
Occupancy, equipment and infrastructure costs	11,916	13,128
Electronic banking charges	9,786	8,232
Information technology expenses	4,804	4,254
Professional and service fees	5,421	4,536
Taxes, other than payroll and income taxes	3,307	3,661
Insurance	2,635	2,455
Foreclosed real estate and other repossessed assets income, net of expenses	(1,482)	(50)
Loan servicing and clearing expenses	1,922	1,841
Advertising, business promotion, and strategic initiatives	2,062	1,431
Communication	1,116	966
Printing, postage, stationary and supplies	1,092	1,217
Director and investor relations	249	300
Pandemic expenses	881	1,769
Other	2,678	1,308
Total non-interest expense	81,155	77,666
Income before income taxes	54,094	44,621
Income tax expense	16,573	14,248
Net income	37,521	30,373
Less: dividends on preferred stock	0	(1,255)
Income available to common shareholders	$ 37,521	$ 29,118
Earnings per common share:
Basic (in dollars per share)	$ 0.77	$ 0.57
Diluted (in dollars per share)	$ 0.76	$ 0.56
Average common shares outstanding and equivalents (in shares)	49,484	51,752
Cash dividends per share of common stock (in dollars per share)	$ 0.15	$ 0.08

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 37,521	$ 30,373
Other comprehensive loss before tax:
Unrealized loss on securities available-for-sale	(30,752)	(5,367)
Unrealized gain on cash flow hedges	619	247
Other comprehensive loss before taxes	(30,133)	(5,120)
Income tax effect	4,335	328
Other comprehensive loss after taxes	(25,798)	(4,792)
Comprehensive income	$ 11,723	$ 25,581

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	Preferred stock	Common stock	Additional paid-in capital	Legal surplus	Retained earnings	Treasury stock	Accumulated other comprehensive income (loss), net of tax
Balance at beginning of period at Dec. 31, 2020			$ 92,000	$ 59,885	$ 622,652	$ 103,269	$ 300,096	$ (102,949)	$ 11,022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense					2,209
Lapsed restricted stock units					(1,926)			1,955
Transfer from retained earnings						2,896
Net income		$ 30,373					30,373
Cash dividends declared on common stock	[1]						(4,116)
Cash dividends declared on preferred stock							(1,255)
Transfer to legal surplus							(2,896)
Stock repurchased		0
Other comprehensive loss, net of tax		(4,792)							(4,792)
Balance at end of period at Mar. 31, 2021		1,108,423	$ 92,000	59,885	622,935	106,165	322,202	(100,994)	6,230
Balance at beginning of period at Dec. 31, 2021		1,069,160		59,885	637,061	117,677	399,949	(150,572)	5,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense					973
Lapsed restricted stock units					(4,238)			3,334
Transfer from retained earnings						3,712
Net income		37,521					37,521
Cash dividends declared on common stock	[1]						(7,438)
Transfer to legal surplus							(3,712)
Stock repurchased		(33,479)						(33,479)
Other comprehensive loss, net of tax		(25,798)							(25,798)
Balance at end of period at Mar. 31, 2022		$ 1,040,035		$ 59,885	$ 633,796	$ 121,389	$ 426,320	$ (180,717)	$ (20,638)
[1]	Dividends declared per common share during the quarter ended March 31, 2022 - $0.15 (March 31, 2021 - $0.08).

UNAUDITED CONSOLIDATED STATEM_6

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.15	$ 0.08

UNAUDITED CONSOLIDATED STATEM_7

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 37,521	$ 30,373
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred loan origination fees and fair value (discounts) premiums on loans	(723)	51
Amortization of investment securities premiums, net of accretion of discounts	599	787
Amortization of other intangible assets	2,146	2,451
Net change in operating leases	59	120
Depreciation and amortization of premises and equipment	3,780	3,366
Deferred income tax expense, net	15,789	8,451
Provision for credit losses	1,551	6,324
Stock-based compensation	973	2,209
(Gain) loss on:
Sale of loans	(899)	(1,894)
Early extinguishment of debt	(42)	0
Foreclosed real estate and other repossessed assets	(4,157)	(1,583)
Sale of other assets	6	(181)
Originations and purchases of loans held-for-sale	(56,954)	(92,264)
Proceeds from sale of loans held-for-sale	57,261	62,886
Net decrease (increase) in:
Trading securities	2	(1)
Accrued interest receivable	478	4,519
Servicing assets	(473)	(616)
Other assets	11,298	(7,190)
Net (decrease) increase in:
Accrued interest on deposits and borrowings	(152)	(291)
Accrued expenses and other liabilities	(28,860)	18,887
Net cash provided by operating activities	39,203	36,404
Purchases of:
Investment securities available-for-sale	(399,025)	(25,894)
Investment securities held-to-maturity	0	(126,777)
Equity securities	(998)	(1,595)
Maturities and redemptions of:
Investment securities available-for-sale	22,170	25,218
Investment securities held-to-maturity	7,540	0
FHLB stock	20	45
Proceeds from sales of:
Foreclosed real estate and other repossessed assets, including write-offs	13,090	10,159
Premises and equipment	0	580
Origination and purchase of loans, excluding loans held-for-sale	(770,935)	(435,363)
Principal repayment of loans	612,039	470,510
Additions to premises and equipment	(9,072)	(3,564)
Net cash used in investing activities	(525,171)	(86,681)
Net increase (decrease) in:
Deposits	394,932	310,712
Subordinated capital notes	(36,041)	0
FHLB advances, federal funds purchased, and other borrowings	(458)	(1,254)
Exercise of stock options with treasury shares	(904)	29
Purchase of treasury stock	(33,479)	0
Dividends paid on preferred stock	0	(1,255)
Dividends paid on common stock	(6,003)	(4,116)
Net cash provided by financing activities	318,047	304,116
Net change in cash, cash equivalents and restricted cash	(167,921)	253,839
Cash, cash equivalents and restricted cash at beginning of period	2,023,650	2,155,577
Cash, cash equivalents and restricted cash at end of period	1,855,729	2,409,416
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:
Cash and due from banks	1,849,906	2,396,965
Money market investments	5,648	11,401
Restricted cash	175	1,050
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,855,729	2,409,416
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:
Interest paid	6,270	9,393
Income taxes paid	1,475	0
Operating lease liabilities paid	2,496	3,253
Mortgage loans held-for-sale securitized into mortgage-backed securities	23,960	30,040
Transfer from loans to foreclosed real estate and other repossessed assets	10,294	13,583
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio	459	4,544
Financed sales of foreclosed real estate	422	53
Delinquent loans booked under the GNMA buy-back option	$ 9,664	$ 40,777

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Nature of Operations OFG is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. OFG operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer and investment adviser, Oriental Financial Services LLC (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), a captive reinsurance company organized under the laws of the Cayman Islands, OFG Reinsurance Ltd (“OFG Reinsurance”), and a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), and OFG Ventures LLC (“OFG Ventures”), which holds investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, leasing, auto loans, financial planning, insurance sales, money management and investment banking and brokerage services, as well as corporate and individual trust services. Basis of Presentation The accompanying unaudited consolidated financial statements of OFG have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission. Accordingly, these consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of OFG on a consolidated basis, and all such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Operating results for three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The Company evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC and has recorded or disclosed those material events or transactions as described within the accompanying consolidated financial statements and notes. New Accounting Updates Adopted in 2022 Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. In August 2020, the FASB issued ASU 2020-06 to clarify the accounting for certain financial instruments with characteristics of liabilities and equity. The amendments in this update reduce the number of accounting models for convertible debt instruments and convertible preferred stock by removing the cash conversion model and the beneficial conversion feature model. Limiting the accounting models will result in fewer embedded conversion features being separately recognized from the host contract. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in-capital. In addition, this ASU improves disclosure requirements for convertible instruments and earnings-per-share guidance. The ASU also revises the derivative scope exception guidance to reduce form-over-substance-based accounting conclusions driven by remote contingent events. The amendments in this update are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Our adoption of this standard did not have a material impact on our financial statements. Lessors—Certain Leases with Variable Lease Payments. FASB ASC 842 – In July 2021, the FASB issued ASU 2021-05 to amend the lease classification requirements for lessors to align them with practice under ASC Topic 840. Lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: (1) The lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria in ASC paragraphs 842-10-25-2 through 25-3; and (2) The lessor would have otherwise recognized a day-one loss. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. The amendments in this update are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Our adoption of this standard did not have a material impact on our financial statements. New Accounting Updated Not Yet Adopted Derivatives and Hedging (Topic 815) Fair Value Hedging—Portfolio Layer Method. In March 2022, the FASB issued ASU 2022-01 to allow non-prepayable financial assets also to be included in a closed portfolio hedged using the portfolio layer method. That expanded scope permits an entity to apply the same portfolio hedging method to both prepayable and non-prepayable financial assets, thereby allowing consistent accounting for similar hedge. The amendments in this update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this ASU for any entity that has adopted the amendments in ASU 2017-12 for the corresponding period. If an entity adopts the amendments in an interim period, the effect of adopting the amendments related to basis adjustments should be reflected as of the beginning of the fiscal year of adoption. OFG will adopt this guidance when it becomes effective and the impact on our financial statements is not expected to be material. Financial Instruments—Credit Losses Troubled Debt Restructurings and Vintage Disclosures. In March 2022, the FASB issued ASU 2022-02 to address the accounting guidance on troubled debt restructurings (TDRs) for creditors in ASC 310-402 and amend the guidance on vintage disclosures to require disclosure of current-period gross write-offs by year of origination. The ASU also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancing and restructurings for borrowers experiencing financial difficulty. The amendments in this update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Entities are permitted to early adopt these amendments, including adoption in any interim period, provided that the amendments are adopted as of the beginning of the annual reporting period that includes the interim period of adoption. In addition, entities are permitted to elect to early adopt the amendments related to TDR accounting and related disclosure enhancements separately from the amendments related to the vintage disclosures. OFG is currently evaluating the impact on the consolidated financial statements upon adoption of this standard.

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Mar. 31, 2022
Restricted Cash and Investments [Abstract]
RESTRICTED CASH	RESTRICTED CASH OFG has a contract with FNMA which requires collateral to guarantee the repurchase, if necessary, of loans sold with recourse. At both March 31, 2022 and December 31, 2021, OFG delivered as collateral cash amounting to approximately $175 thousand. The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits. The amount of those minimum average reserve balances for the week that covered March 31, 2022 was $481.3 million (December 31, 2021 - $456.5 million). At March 31, 2022 and December 31, 2021, the Bank complied with this requirement. Cash and due from bank as well as other short-term, highly liquid securities, are used to cover the required average reserve balances.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES Money Market Investments OFG considers as cash equivalents all money market instruments that are not pledged and that have maturities of three months or less at the date of acquisition. At March 31, 2022 and December 31, 2021, money market instruments included as part of cash and cash equivalents amounted to $5.6 million and $9.0 million, respectively. Investment Securities The amortized cost, gross unrealized gains and losses, fair value, weighted average yield and contractual maturities of the securities owned by OFG at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 1 to 5 years 2,020 — 5 $ 2,015 2.13 % Due from 5 to 10 years $ 82,101 $ 2 $ 1,168 $ 80,935 1.94 % Due after 10 years 490,169 — 14,229 $ 475,940 2.25 % Total FNMA and FHLMC certificates 574,290 2 15,402 558,890 2.21 % GNMA Securities Due from 1 to 5 years 16,836 — 146 16,690 1.63 % Due from 5 to 10 years 16,470 — 327 16,143 1.88 % Due after 10 years 261,712 872 8,221 254,363 2.40 % Total GNMA certificates 295,018 872 8,694 287,196 2.32 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 1,523 — 24 1,499 1.70 % Due from 5 to 10 years 18,584 — 300 18,284 1.80 % Due after 10 years 1,325 1 4 1,322 4.53 % Total CMOs issued by US government-sponsored agencies 21,432 1 328 21,105 1.96 % Total mortgage-backed securities 890,740 875 24,424 867,191 2.24 % Investment securities US Treasury securities Due less than 1 year 10,735 28 — 10,763 1.49 % Total US Treasury Securities 10,735 28 — 10,763 1.49 % Other debt securities Due less than 1 year 500 — — 500 0.57 % Due from 1 to 5 years 1,823 61 — 1,884 5.46 % Total Other debt securities 2,323 61 — 2,384 4.41 % Total investment securities 13,058 89 — 13,147 2.01 % Total securities available for sale $ 903,798 $ 964 $ 24,424 $ 880,338 2.24 % March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years $ 359,806 $ — $ 29,837 $ 329,969 1.71 % December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 5 to 10 years 90,560 2,502 — 93,062 1.94 % Due after 10 years 93,440 — 3,200 90,240 1.37 % Total FNMA and FHLMC certificates 184,000 2,502 3,200 183,302 1.65 % GNMA Securities Due from 1 to 5 years 10,536 233 1 10,768 1.66 % Due from 5 to 10 years 26,419 556 — 26,975 1.80 % Due after 10 years 244,106 6,927 198 250,835 2.40 % Total GNMA certificates 281,061 7,716 199 288,578 2.32 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 1,788 22 — 1,810 1.70 % Due from 5 to 10 years 20,705 299 — 21,004 1.81 % Due after 10 years 1,601 16 1 1,616 4.24 % Total CMOs issued by US government-sponsored agencies 24,094 337 1 24,430 1.96 % Total mortgage-backed securities 489,155 10,555 3,400 496,310 2.05 % Investment securities US Treasury securities Due less than 1 year 10,737 88 — 10,825 1.48 % Total US Treasury Securities 10,737 88 — 10,825 1.48 % Obligations of US government-sponsored agencies Due less than 1 year 1,182 1 — 1,183 1.40 % Total Obligations of US government-sponsored agencies 1,182 1 — 1,183 1.40 % Other debt securities Due less than 1 year 500 — — 500 0.57 % Due from 1 to 5 years 1,847 48 — 1,895 5.43 % Total Other debt securities 2,347 48 — 2,395 4.39 % Total investment securities 14,266 137 — 14,403 1.95 % Total securities available for sale $ 503,421 $ 10,692 $ 3,400 $ 510,713 2.05 % December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years 367,507 — 3,854 363,653 1.71 % Investment securities as of March 31, 2022 include $200.4 million pledged to secure government deposits, derivatives and regulatory collateral that the secured parties are not permitted to sell or repledge the collateral, of which $199.7 million serve as collateral for public funds. Investment securities as of December 31, 2021 include $145.6 million pledged to secure government deposits, derivatives and regulatory collateral that the secured parties are not permitted to sell or repledge the collateral, of which $143.8 million serve as collateral for public funds. The weighted average yield on debt securities available-for-sale is based on amortized cost and does not give effect to changes in fair value. Weighted average yields on tax-exempt obligations have been computed on a fully taxable equivalent basis. Securities not due on a single contractual maturity date, such as collateralized mortgage obligations, are classified in the period of final contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2022 and December 31, 2021, most securities held by OFG are issued by U.S. government entities and agencies that have a zero-credit loss assumption. At both March 31, 2022 and December 31, 2021, the Bank’s international banking entities held short-term US Treasury securities in the amount of $305 thousand and $325 thousand, respectively, as the legal reserve required for international banking entities under Puerto Rico law. These instruments cannot be withdrawn or transferred without the prior written approval of the Office of the Commissioner of Financial Institutions of Puerto Rico (“OCFI”). During the quarters ended March 31, 2022 and 2021, OFG retained securitized GNMA pools totaling $24.0 million and $30.0 million amortized cost, respectively, at a yield of 2.37% and 2.22%, from its own originations. There were no sales of securities during the quarters ended March 31, 2022 and 2021. The following table show OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at March 31, 2022 and December 31, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: March 31, 2022 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates 91,258 9,884 81,374 GNMA certificates 4,237 256 3,981 $ 95,495 $ 10,140 $ 85,355 March 31, 2022 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 20,744 328 20,416 FNMA and FHLMC certificates 481,614 5,518 476,096 GNMA certificates 273,405 8,438 264,967 $ 775,763 $ 14,284 $ 761,479 Held-to-maturity FNMA and FHLMC certificates $ 359,806 $ 29,837 $ 329,969 March 31, 2022 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 20,744 328 20,416 FNMA and FHLMC certificates 572,872 15,402 557,470 GNMA certificates 277,642 8,694 268,948 $ 871,258 $ 24,424 $ 846,834 Held-to-maturity FNMA and FHLMC certificates $ 359,806 $ 29,837 $ 329,969 December 31, 2021 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 500 1 499 FNMA and FHLMC certificates 93,440 3,200 90,240 GNMA certificates 5,022 199 4,823 $ 98,962 $ 3,400 $ 95,562 Held-to-maturity FNMA and FHLMC certificates $ 367,507 $ 3,854 $ 363,653 OFG had no investment securities in a continuous loss position for 12 months or more at December 31, 2021.

LOANS

LOANS	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
LOANS	LOANS OFG’s loan portfolio is composed of four segments, commercial, mortgage, consumer, and auto loans and leases. Loans are further segregated into classes which OFG uses when assessing and monitoring the risk and performance of the portfolio. The composition of the amortized cost basis of OFG’s loan portfolio at March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 December 31, 2021 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial loans: Commercial secured by real estate $ 925,644 $ 163,865 $ 1,089,509 $ 883,994 $ 176,186 $ 1,060,180 Other commercial and industrial 805,499 26,761 832,260 759,172 28,149 787,321 Other commercial and industrial - Paycheck Protection Program (PPP Loans) 53,277 — 53,277 86,889 — 86,889 US commercial loans 524,868 — 524,868 444,940 — 444,940 2,309,288 190,626 2,499,914 2,174,995 204,335 2,379,330 Mortgage 704,277 1,144,364 1,848,641 718,848 1,188,423 1,907,271 Consumer: Personal loans 395,656 478 396,134 346,859 546 347,405 Credit lines 13,920 355 14,275 14,775 370 15,145 Credit cards 45,145 — 45,145 46,795 — 46,795 Overdraft 238 — 238 330 — 330 454,959 833 455,792 408,759 916 409,675 Auto and leasing 1,732,859 10,765 1,743,624 1,693,029 13,281 1,706,310 5,201,383 1,346,588 6,547,971 4,995,631 1,406,955 6,402,586 Allowance for credit losses (137,344) (19,731) (157,075) (132,065) (23,872) (155,937) Total loans held for investment, net 5,064,039 1,326,857 6,390,896 4,863,566 1,383,083 6,246,649 Mortgage loans held for sale 26,761 — 26,761 51,096 — 51,096 Other loans held for sale 31,473 — 31,473 31,566 — 31,566 Total loans held for sale 58,234 — 58,234 82,662 — 82,662 Total loans, net $ 5,122,273 $ 1,326,857 $ 6,449,130 $ 4,946,228 $ 1,383,083 $ 6,329,311 During quarter ended on March 31, 2022, OFG sold $21.9 million of past due mortgage loans held for sale. These mortgage loans were transferred to held for sale during the fourth quarter of 2021. At March 31, 2022 and December 31, 2021, OFG had carrying balances of $86.1 million and $87.3 million, respectively, in loans held for investment granted to the Puerto Rico government, including its municipalities and public corporations, as part of the commercial loan segment. The Bank’s loans to the Puerto Rico government amounting to $86.1 million and $86.2 million at March 31, 2022 and December 31, 2021, respectively, are general obligations of municipalities secured by ad valorem taxation, without limitation as to rate or amount, on all taxable property within the issuing municipalities in current status. The good faith, credit and unlimited taxing power of each issuing municipality are pledged for the payment of its general obligations. At December 31, 2021, total loan exposure to the Puerto Rico government included a $1.1 million acquired PCD loan granted to a public corporation classified as non-accrual, which was repaid during the quarter ended March 31, 2022. The tables below present the aging of the amortized cost of loans held for investment at March 31, 2022 and December 31, 2021, by class of loans. Mortgage loans past due include $9.7 million and $14.5 million of delinquent loans in the GNMA buy-back option program at March 31, 2022 and December 31, 2021, respectively. Servicers of loans underlying GNMA mortgage-backed securities must report as their own assets the defaulted loans that they have the option (but not the obligation) to repurchase, even when they elect not to exercise that option. March 31, 2022 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial Commercial secured by real estate $ 612 $ 443 $ 12,494 $ 13,549 $ 912,095 $ 925,644 $ — Other commercial and industrial 1,189 356 966 2,511 856,265 858,776 — US commercial loans — — — — 524,868 524,868 — 1,801 799 13,460 16,060 2,293,228 2,309,288 — Mortgage 5,835 7,943 34,883 48,661 655,616 704,277 2,099 Consumer Personal loans 3,097 1,690 1,290 6,077 389,579 395,656 — Credit lines 416 153 110 679 13,241 13,920 — Credit cards 669 405 559 1,633 43,512 45,145 — Overdraft 61 — — 61 177 238 — 4,243 2,248 1,959 8,450 446,509 454,959 — Auto and leasing 54,635 24,856 12,364 91,855 1,641,004 1,732,859 — Total loans $ 66,514 $ 35,846 $ 62,666 $ 165,026 $ 5,036,357 $ 5,201,383 $ 2,099 December 31, 2021 30-59 Day 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial Commercial secured by real estate $ 2,210 $ 102 $ 8,446 $ 10,758 $ 873,236 $ 883,994 $ — Other commercial and industrial 1,886 538 946 3,370 842,691 846,061 — US commercial loans — — — — 444,940 444,940 — 4,096 640 9,392 14,128 2,160,867 2,174,995 — Mortgage 8,704 7,855 43,468 60,027 658,821 718,848 2,346 Consumer Personal loans 2,382 1,131 1,116 4,629 342,230 346,859 — Credit lines 531 141 227 899 13,876 14,775 — Credit cards 610 336 631 1,577 45,218 46,795 — Overdraft 130 14 — 144 186 330 — 3,653 1,622 1,974 7,249 401,510 408,759 — Auto and leasing 60,038 30,234 13,461 103,733 1,589,296 1,693,029 — Total loans $ 76,491 $ 40,351 $ 68,295 $ 185,137 $ 4,810,494 $ 4,995,631 $ 2,346 Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the tables above. Non-accrual Loans The following table presents the amortized cost basis of loans on nonaccrual status as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total (In thousands) Non-PCD: Commercial Commercial secured by real estate $ 15,703 $ 17,864 $ 33,567 $ 16,299 $ 19,538 $ 35,837 Other commercial and industrial 1,009 317 1,326 1,284 483 1,767 16,712 18,181 34,893 17,583 20,021 37,604 Mortgage 22,642 3,562 26,204 16,428 12,840 29,268 Consumer Personal loans 1,008 353 1,361 1,143 302 1,445 Personal lines of credit 110 — 110 226 — 226 Credit cards 559 — 559 632 — 632 1,677 353 2,030 2,001 302 2,303 Auto and leasing 12,492 3 12,495 19,827 2 19,829 Total $ 53,523 $ 22,099 $ 75,622 $ 55,839 $ 33,165 $ 89,004 PCD: Commercial Commercial secured by real estate $ 3,682 $ 7,155 $ 10,837 $ 5,205 $ 6,198 $ 11,403 Other commercial and industrial — 40 40 1,102 40 1,142 3,682 7,195 10,877 6,307 6,238 12,545 Mortgage 310 — 310 334 — 334 Total $ 3,992 $ 7,195 $ 11,187 $ 6,641 $ 6,238 $ 12,879 Total non-accrual loans $ 57,515 $ 29,294 $ 86,809 $ 62,480 $ 39,403 $ 101,883 The determination of nonaccrual or accrual status of PCD loans is made at the pool level, not the individual loan level. Delinquent residential mortgage loans insured or guaranteed under applicable FHA and VA programs are classified as non-performing loans when they become 90 days or more past due but are not placed in non-accrual status until they become 12 months or more past due, since they are insured loans. Therefore, those loans are included as non-performing loans but excluded from non-accrual loans. At March 31, 2022 and December 31, 2021, loans whose terms have been extended and which were classified as troubled-debt restructurings that were not included in non-accrual loans amounted to $123.4 million and $125.9 million, respectively, as they were performing under their new terms. Modifications OFG offers various types of concessions when modifying a loan. Concessions made to the original contractual terms of the loan typically consists of the deferral of interest and/or principal payments due to deterioration in the borrowers' financial condition. In these cases, the principal balance on the TDR had matured and/or was in default at the time of restructure. The amount of outstanding commitments to lend additional funds to commercial borrowers whose terms have been modified in TDRs amounted to $3.4 million and $3.7 million at March 31, 2022 and December 31, 2021, respectively. The following table presents the troubled-debt restructurings in all loan portfolios as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Accruing Non-accruing Total Related Allowance Accruing Non-accruing Total Related Allowance (In thousands) Commercial loans: Commercial secured by real estate $ 6,505 $ 14,476 $ 20,981 $ 118 $ 10,981 $ 14,444 $ 25,425 $ 202 Other commercial and industrial 2,802 301 3,103 72 2,785 473 3,258 41 US commercial loans 7,143 — 7,143 126 7,156 — 7,156 126 16,450 14,777 31,227 316 20,922 14,917 35,839 369 Mortgage 103,962 9,572 113,534 3,685 101,487 9,475 110,962 3,867 Consumer: Personal loans 2,874 71 2,945 141 3,275 139 3,414 159 Auto and leasing 141 — 141 5 203 8 211 11 Total loans $ 123,427 $ 24,420 $ 147,847 $ 4,147 $ 125,887 $ 24,539 $ 150,426 $ 4,406 The following tables present the troubled-debt restructurings by loan portfolios and modification type as of March 31, 2022 and December 31, 2021 : March 31, 2022 Reduction in interest rate Maturity or term extension Combination of reduction in interest rate and extension of maturity Forbearance Total (In thousands) Commercial loans: Commercial secured by real estate $ 8,265 $ 1,160 $ 8,287 $ 3,269 $ 20,981 Other commercial and industrial 713 1,863 502 25 3,103 US commercial loans 7,143 — — — 7,143 16,121 3,023 8,789 3,294 31,227 Mortgage 37,810 6,918 34,739 34,067 113,534 Consumer: Personal loans 1,280 265 1,237 163 2,945 Auto and leasing 46 — 26 69 141 Total loans $ 55,257 $ 10,206 $ 44,791 $ 37,593 $ 147,847 December 31, 2021 Reduction in interest rate Maturity or term extension Combination of reduction in interest rate and extension of maturity Forbearance Total (In thousands) Commercial loans: Commercial secured by real estate $ 8,461 $ 1,227 $ 12,401 $ 3,336 $ 25,425 Other commercial and industrial 723 1,985 522 28 3,258 US commercial loans 7,156 — — — 7,156 16,340 3,212 12,923 3,364 35,839 Mortgage 37,307 6,796 32,456 34,403 110,962 Consumer: Personal loans 1,496 287 1,430 201 3,414 Auto and leasing 74 — 28 109 211 Total loans $ 55,217 $ 10,295 $ 46,837 $ 38,077 $ 150,426 TDRs disclosed above were not related to Covid-19 modifications. Section 4013 of CARES Act and the " Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)" provided banks an option to elect to not account for certain loan modifications related to Covid-19 as TDRs as long as the borrowers were not more than 30 days past due as of December 31, 2019 and at the time of implementation of the modification program, and the borrowers meet other applicable criteria. At March 31, 2022 there were $10.7 million (December 31, 2021 - $28.0 million) of loans deferred from the Covid-19 pandemic that were not classified as a TDR, which consists of VA insured mortgage loans. At March 31, 2022 and December 31, 2021, TDR mortgage loans include $44.4 million and $40.8 million, respectively, of government guaranteed loans ( e.g. FHA/VA). Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the TDR tables. Loan modifications that are considered TDR loans completed during the quarters ended March 31, 2022 and 2021 were as follows: Quarter Ended March 31, 2022 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 36 $ 4,700 4.53 % 274 $ 4,863 3.47 % 343 Commercial 2 895 5.60 % 52 752 4.37 % 75 Consumer 1 13 18.20 % 84 13 10.95 % 84 Quarter Ended March 31, 2021 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 26 3,557 3.99 % 300 3,580 3.61 % 333 Commercial 2 185 7.21 % 58 204 6.80 % 58 Consumer 2 16 11.76 % 54 17 9.93 % 63 Auto and leasing 5 82 6.81 % 66 82 9.81 % 36 The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month periods ended March 31, 2022 and 2021: Twelve Month Period Ended March 31, 2022 2021 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 16 $ 1,888 13 $ 1,507 Consumer 5 $ 71 — $ — Auto and leasing 1 $ 10 10 $ 57 As of March 31, 2022 and December 31, 2021, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $14.9 million and $16.9 million, respectively. OFG commences the foreclosure process on residential real estate loans when a borrower becomes 120 days delinquent. Puerto Rico and the USVI require the foreclosure to be processed through the respective territory’s courts. Foreclosure timelines vary according to local law and investor guidelines. Occasionally, foreclosures may be delayed due to, among other reasons, mandatory mediation, bankruptcy, court delays and title issues. Collateral-dependent Loans The table below present the amortized cost of collateral-dependent loans held for investment at March 31, 2022 and December 31, 2021, by class of loans. March 31, 2022 December 31, 2021 (In thousands) Commercial loans: Commercial secured by real estate $ 21,279 $ 10,233 PCD loans, except for single pooled loans, are not included in the table above as their unit of account is the loan pool. Credit Quality Indicators OFG categorizes its loans into loan grades based on relevant information about the ability of borrowers to service their debt, such as economic conditions, portfolio risk characteristics, prior loss experience, and the results of periodic credit reviews of individual loans. OFG uses the following definitions for loan grades: Pass: Loans classified as “pass” have a well-defined primary source of repayment very likely to be sufficient, with no apparent risk, strong financial position, minimal operating risk, profitability, liquidity and capitalization better than industry standards. Special Mention: Loans classified as “special mention” have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as “substandard” are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as “doubtful” have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, questionable and improbable. Loss: Loans classified as “loss” are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be effected in the future. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass loans. As of March 31, 2022 and based on the most recent analysis performed, the risk category of loans subject to risk rating by class of loans is as follows. Term Loans Revolving Total 2022 2021 2020 2019 2018 Prior (In thousands) Commercial: Commercial secured by real estate: Loan grade: Pass $ 85,540 $ 183,488 $ 127,605 $ 112,985 $ 77,970 $ 215,510 $ 32,923 $ 836,021 Special Mention — — 968 32,309 4,468 8,980 664 47,389 Substandard — 8,878 10,391 173 1,146 17,253 3,740 41,581 Doubtful — — — — — 20 633 653 Loss — — — — — — — — Total commercial secured by real estate 85,540 192,366 138,964 145,467 83,584 241,763 37,960 925,644 Other commercial and industrial: Loan grade: Pass 47,372 245,506 85,959 40,564 59,694 11,917 344,577 835,589 Special Mention — 231 40 7,748 2,008 3,452 6,288 19,767 Substandard 12 — 348 179 572 100 2,160 3,371 Doubtful — — — — — — 49 49 Loss — — — — — — — — Total other commercial and industrial: 47,384 245,737 86,347 48,491 62,274 15,469 353,074 858,776 US commercial loans: Loan grade: Pass 33,300 81,469 60,798 31,619 46,288 — 233,963 487,437 Special Mention — — — 1,527 19,135 — — 20,662 Substandard — — 7,143 — 9,626 — — 16,769 Doubtful — — — — — — — — Loss — — — — — — — — Total US commercial loans: 33,300 81,469 67,941 33,146 75,049 — 233,963 524,868 Total commercial loans $ 166,224 $ 519,572 $ 293,252 $ 227,104 $ 220,907 $ 257,232 $ 624,997 $ 2,309,288 As of December 31, 2021 and based on the most recent analysis performed, the risk category of loans subject to risk rating by class of loans is as follows. Term Loans Revolving Total 2021 2020 2019 2018 2017 Prior (In thousands) Commercial: Commercial secured by real estate: Loan grade: Pass $ 183,820 $ 120,855 $ 114,208 $ 94,864 $ 52,439 $ 183,026 $ 45,178 $ 794,390 Special Mention 654 628 32,578 4,581 4,053 5,102 643 48,239 Substandard 8,415 10,694 58 849 1,357 17,555 1,671 40,599 Doubtful — — — — — 22 744 766 Loss — — — — — — — — Total commercial secured by real estate 192,889 132,177 146,844 100,294 57,849 205,705 48,236 883,994 Other commercial and industrial: Loan grade: Pass 276,165 93,809 45,976 57,989 6,106 6,004 330,072 816,121 Special Mention 78 23 8,076 2,213 3,525 — 13,642 27,557 Substandard 112 48 155 394 81 28 1,513 2,331 Doubtful — — — — — — 52 52 Loss — — — — — — — — Total other commercial and industrial: 276,355 93,880 54,207 60,596 9,712 6,032 345,279 846,061 US commercial loans: Loan grade: Pass 85,394 61,098 41,924 47,179 — — 171,928 407,523 Special Mention — — 1,515 19,095 — — — 20,610 Substandard — 7,156 — 9,651 — — — 16,807 Doubtful — — — — — — — — Loss — — — — — — — — Total US commercial loans: 85,394 68,254 43,439 75,925 — — 171,928 444,940 Total commercial loans $ 554,638 $ 294,311 $ 244,490 $ 236,815 $ 67,561 $ 211,737 $ 565,443 $ 2,174,995 At March 31, 2022 and December 31, 2021, the balance of revolving loans converted to term loans was $57.7 million and $37.5 million, respectively. OFG considers the performance of the loan portfolio and its impact on the allowance for credit losses. For mortgage and consumer loan classes, OFG also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the amortized cost in mortgage and consumer loans based on payment activity as of March 31, 2022: Term Loans Revolving Revolving Loans Total 2022 2021 2020 2019 2018 Prior (In thousands) Mortgage: Payment performance: Performing $ 6,885 $ 26,893 $ 16,868 $ 14,755 $ 18,411 $ 583,692 $ — $ — $ 667,504 Nonperforming — — 126 341 477 35,829 — — 36,773 Total mortgage loans: 6,885 26,893 16,994 15,096 18,888 619,521 — — 704,277 Consumer: Personal loans: Payment performance: Performing 94,228 159,506 47,338 54,905 24,182 14,136 — — 394,295 Nonperforming 13 235 246 300 128 439 — — 1,361 Total personal loans 94,241 159,741 47,584 55,205 24,310 14,575 — — 395,656 Credit lines: Payment performance: Performing — — — — — — 13,810 — 13,810 Nonperforming — — — — — — 110 — 110 Total credit lines — — — — — — 13,920 — 13,920 Credit cards: Payment performance: Performing — — — — — — 44,586 — 44,586 Nonperforming — — — — — — 559 — 559 Total credit cards — — — — — — 45,145 — 45,145 Overdrafts: Payment performance: Performing — — — — — — 238 — 238 Nonperforming — — — — — — — — — Total overdrafts — — — — — — 238 — 238 Total consumer loans 94,241 159,741 47,584 55,205 24,310 14,575 59,303 — 454,959 Total mortgage and consumer loans $ 101,126 $ 186,634 $ 64,578 $ 70,301 $ 43,198 $ 634,096 $ 59,303 $ — $ 1,159,236 The following table presents the amortized cost in mortgage and consumer loans based on payment activity as of December 31, 2021: Term Loans Revolving Revolving Loans Total 2021 2020 2019 2018 2017 Prior (In thousands) Mortgage: Payment performance: Performing $ 18,486 $ 16,585 $ 15,461 $ 19,261 $ 24,872 $ 584,792 $ — $ — $ 679,457 Nonperforming — 126 129 510 1,830 36,796 — — 39,391 Total mortgage loans: 18,486 16,711 15,590 19,771 26,702 621,588 — — 718,848 Consumer: Personal loans: Payment performance: Performing 175,273 55,960 65,425 29,808 12,287 6,661 — — 345,414 Nonperforming 296 239 411 143 20 336 — — 1,445 Total personal loans 175,569 56,199 65,836 29,951 12,307 6,997 — — 346,859 Credit lines: Payment performance: Performing — — — — — — 14,549 — 14,549 Nonperforming — — — — — — 226 — 226 Total credit lines — — — — — — 14,775 — 14,775 Credit cards: Payment performance: Performing — — — — — — 46,163 — 46,163 Nonperforming — — — — — — 632 — 632 Total credit cards — — — — — — 46,795 — 46,795 Overdrafts: Payment performance: Performing — — — — — — 330 — 330 Nonperforming — — — — — — — — — Total overdrafts — — — — — — 330 — 330 Total consumer loans 175,569 56,199 65,836 29,951 12,307 6,997 61,900 — 408,759 Total mortgage and consumer loans $ 194,055 $ 72,910 $ 81,426 $ 49,722 $ 39,009 $ 628,585 $ 61,900 $ — $ 1,127,607 OFG evaluates credit quality for auto loans and leases based on FICO score. The following table presents the amortized cost in auto loans and leases based on their most recent FICO score as of March 31, 2022: Term Loans Total 2022 2021 2020 2019 2018 Prior (In thousands) Auto and leasing: FICO score: 1-660 33,276 165,264 85,758 74,524 59,447 52,034 470,303 661-699 33,282 134,368 59,373 42,517 29,540 23,202 322,282 700+ 70,521 248,563 170,553 169,596 120,474 85,393 865,100 No FICO 7,383 23,139 12,669 15,432 9,133 7,418 75,174 Total auto and leasing: $ 144,462 $ 571,334 $ 328,353 $ 302,069 $ 218,594 $ 168,047 $ 1,732,859 The following table presents the amortized cost in auto loans and leases based on their most recent FICO score as of December 31, 2021: Term Loans Total 2021 2020 2019 2018 2017 Prior (In thousands) Auto and leasing: FICO score: 1-660 161,534 90,402 80,745 65,681 38,001 23,171 459,534 661-699 134,507 68,422 48,173 33,854 16,761 10,534 312,251 700+ 245,148 180,737 184,307 133,098 63,229 38,474 844,993 No FICO 26,759 13,580 17,062 10,119 5,515 3,216 76,251 Total auto and leasing: $ 567,948 $ 353,141 $ 330,287 $ 242,752 $ 123,506 $ 75,395 $ 1,693,029 Upon adoption of CECL, OFG elected to maintain pools of loans that were previously accounted for under ASC 310-30 and will continue to account for these pools as a unit of account. As such, PCD loans are not included in the tables above.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES On January 1, 2020, OFG adopted the new accounting standard that requires the measurement of the allowance for credit losses to be based on management’s best estimate of lifetime expected credit losses inherent in OFG’s relevant financial assets. The allowance for credit losses (“ACL”) is estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio as well as an economic outlook over the life of the loan. Also included in the ACL are qualitative reserves to cover losses that are expected but, in OFG’s assessment, may not be adequately represented in the quantitative methods or the economic assumptions. In its loss forecasting framework, OFG incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. The scenarios that are chosen each quarter and the amount of weighting given to each scenario depend on a variety of factors including recent economic events, leading economic indicators, views of internal as well as third-party economists and industry trends. At March 31, 2022, OFG used an economic probability weighted scenario approach which consist of the baseline and moderate recession scenarios, giving more weight to the baseline scenario. In addition, the ACL at March 31, 2022 continues to include qualitative reserves for certain segments that OFG views as higher risk that may not be fully recognized through its quantitative models such as commercial loans concentrated in certain industries and consumer retail portfolios. There are still many unknowns including the duration of the impact of Covid-19 on the economy and the results of the government fiscal and monetary actions resulting from the effect of inflation. Also, geopolitical tension resulted from the military conflict between Ukraine and Russia will put more pressure on inflation due to disruption to oil, natural gas and other commodity markets. As of March 31, 2022, the allowance for credit losses increased by $1.1 million when compared to December 31, 2021. The provision for credit losses for the quarter ended March 31, 2022 includes a provision of $4.0 million related to growth in loan balances, an increase of $4.2 million related to a commercial loan previously placed in non-accrual status, and a decrease of $5.7 million associated with qualitative adjustment due to improvement in the performance of the portfolios and in the labor market of the island. The provision for credit losses for the quarter ended March 31, 2021 included a $3.7 million release of Covid-19-related loan reserves and a $3.5 million provision for a commercial loan in workout prior to the pandemic. The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 32,262 $ 15,299 $ 19,141 $ 65,363 $ 132,065 Provision for (recapture of) credit losses 5,187 (2,418) 3,963 1,831 8,563 Charge-offs (544) (3) (2,659) (7,890) (11,096) Recoveries 192 2,074 655 4,891 7,812 Balance at end of period $ 37,097 $ 14,952 $ 21,100 $ 64,195 $ 137,344 PCD: Balance at beginning of period $ 4,508 $ 19,018 $ 34 $ 312 $ 23,872 (Recapture of) provision for credit losses (3,875) (2,848) 13 (138) (6,848) Charge-offs (34) (1,134) (39) (114) (1,321) Recoveries 3,023 845 23 137 4,028 Balance at end of period $ 3,622 $ 15,881 $ 31 $ 197 $ 19,731 Total allowance for credit losses at end of period $ 40,719 $ 30,833 $ 21,131 $ 64,392 $ 157,075 Total recoveries for the first quarter of 2022 includes a $2.8 million recovery from a Puerto Rico government public corporation acquired PCD commercial loan repaid during the quarter and $1.1 million recoveries associated with the final settlement of the past due mortgage loans transferred to held for sale during the fourth quarter of 2021 and subsequently sold during the first quarter of 2022. Quarter Ended March 31, 2021 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 45,779 $ 19,687 $ 25,253 $ 70,296 $ 161,015 Provision for (recapture of) credit losses 1,542 (2,480) (158) 4,039 2,943 Charge-offs (68) (787) (4,469) (9,083) (14,407) Recoveries 430 615 565 5,817 7,427 Balance at end of period $ 47,683 $ 17,035 $ 21,191 $ 71,069 $ 156,978 PCD: Balance at beginning of period $ 16,405 $ 26,389 $ 57 $ 943 $ 43,794 (Recapture of) provision for credit losses (2,492) 5,994 (4) (172) 3,326 Charge-offs (43) (2,590) (22) (456) (3,111) Recoveries 436 146 21 383 986 Balance at end of period $ 14,306 $ 29,939 $ 52 $ 698 $ 44,995 Total allowance for credit losses at end of period $ 61,989 $ 46,974 $ 21,243 $ 71,767 $ 201,973

FORECLOSED REAL ESTATE

FORECLOSED REAL ESTATE	3 Months Ended
	Mar. 31, 2022
Other Real Estate [Abstract]
FORECLOSED REAL ESTATE	FORECLOSED REAL ESTATE The following tables present the activity related to foreclosed real estate for the quarters ended March 31, 2022 and 2021: Quarter ended March 31, 2022 2021 (In thousands) Balance at beginning of period $ 15,039 $ 11,596 Additions 3,180 6,637 Sales (3,807) (2,423) Decline in value (195) (89) Other adjustments 1,080 (123) Balance at end of period $ 15,297 $ 15,598

SERVICING ASSETS

SERVICING ASSETS	3 Months Ended
	Mar. 31, 2022
Transfers and Servicing [Abstract]
SERVICING ASSETS	SERVICING ASSETS At March 31, 2022, the fair value of mortgage servicing rights was $49.4 million ($49.0 million — December 31, 2021). The following table presents the changes in servicing rights measured using the fair value method for the quarters ended March 31, 2022 and 2021: Quarter ended March 31, 2022 2021 Fair value at beginning of period $ 48,973 $ 47,295 Servicing from mortgage securitization or asset transfers 1,119 1,420 Changes due to payments on loans (1,499) (1,507) Changes in fair value due to changes in valuation model inputs or assumptions 853 703 Fair value at end of period $ 49,446 $ 47,911 The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 2021 Constant prepayment rate 3.88% - 24.30% 4.50% - 40.50% Discount rate 10.00% - 15.50% 10.00% - 15.50% The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follows: March 31, 2022 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 49,446 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (924) Decrease in fair value due to 20% adverse change $ (1,819) Discount rate Decrease in fair value due to 10% adverse change $ (2,276) Decrease in fair value due to 20% adverse change $ (4,373) These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% variation in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, in this table, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated without changing any other assumption. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Servicing fee income is based on a contractual percentage of the outstanding principal balance and is recorded as income when earned. Servicing fees on mortgage loans for the quarters ended March 31, 2022 and 2021 totaled $5.0 million and $5.2 million, respectively.

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES OFG’s overall interest rate risk-management strategy incorporates the use of derivative instruments to minimize significant unplanned fluctuations in earnings that are caused by interest rate volatility. Derivative instruments that are used as part of OFG’s interest rate risk-management strategy include interest rate swaps and caps. As of March 31, 2022 and December 31, 2021, the notional amount of derivative contracts outstanding was $28.0 million and $28.5 million respectively. The gross fair value of derivative asset was $6 thousand and $1 thousand, respectively, and the gross fair value of derivatives liabilities were $191 thousand and $804 thousand, respectively. The impact of master netting agreements was not material. As of March 31, 2022 and December 31, 2021, derivative and hedging activities were not material.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS As of March 31, 2022 and December 31, 2021, OFG had $86.1 million of goodwill allocated as follows: $84.1 million to the banking segment and $2.0 million to the wealth management segment (refer to Note 23 – Business Segments for the definition of OFG’s reportable business segments). There were no changes in the carrying amount of goodwill for the quarters ended March 31, 2022 and 2021. Relevant events and circumstances for evaluating whether it is more likely than not that the fair value of a reporting segment is less than its carrying amount may include macroeconomic conditions (such as deterioration of the Puerto Rico economy or the liquidity for Puerto Rico securities or loans secured by assets in Puerto Rico), adverse changes in legal factors or in the business climate, adverse actions by a regulator, unanticipated competition, the loss of key employees, natural disasters, or similar events. OFG performed its annual impairment review of goodwill during the fourth quarter of 2021 using October 31, 2021 as the annual evaluation date and concluded that there was no impairment at December 31, 2021. There were no additional events that caused OFG to perform interim testing during the quarter ended March 31, 2022. The following table reflects the components of other intangible assets subject to amortization at March 31, 2022 and 2021: Gross Accumulated Net (In thousands) March 31, 2022 Core deposit intangibles $ 51,402 $ 25,410 $ 25,992 Customer relationship intangibles 17,753 9,869 7,884 Other intangibles 567 496 71 Total other intangible assets $ 69,722 $ 35,775 $ 33,947 December 31, 2021 Core deposit intangibles $ 51,402 $ 23,772 $ 27,630 Customer relationship intangibles 17,753 9,385 8,368 Other intangibles 567 472 95 Total other intangible assets $ 69,722 $ 33,629 $ 36,093 In connection with previous acquisitions, OFG recorded a core deposit intangible representing the value of checking and savings deposits acquired. In addition, OFG recorded a customer relationship intangible representing the value of customer relationships acquired with the acquisitions of a securities broker-dealer and insurance agencies. Other intangible assets have a definite useful life. Amortization of other intangible assets for the quarters ended March 31, 2022 and 2021 was $2.1 million and $2.5 million, respectively. Year Ending December 31, (In thousands) 2022 $ 8,501 2023 6,898 2024 5,913 2025 4,927 2026 3,942 Thereafter 5,912

ACCRUED INTEREST RECEIVABLE AND

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	3 Months Ended
	Mar. 31, 2022
Accrued Interest Receivable and Other Assets [Abstract]
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at March 31, 2022 and December 31, 2021 consists of the following: March 31, December 31, 2022 2021 (In thousands) Loans $ 53,427 $ 54,794 Investments 2,670 1,766 $ 56,097 $ 56,560 Accrued interest receivable on loans that participated in the Covid-19 deferral programs amounted to $23.6 million at March 31, 2022 (December 31, 2021 - $23.9 million), of which $21.8 million (December 31, 2021 - $21.5 million) corresponds to loans in current status. OFG estimates expected credit losses on accrued interest receivable for loans that participated in the Covid-19 deferral programs. An allowance has been established for loans with delinquency status in 30 to 89 days past due and is calculated by applying the corresponding loan projected loss factors to the accrued interest receivable balance. At March 31, 2022 and December 31, 2021, the allowance for credit losses for accrued interest receivable for loans that participated in the Covid-19 deferral programs amounted to $146 thousand and $161 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition. Other assets at March 31, 2022 and December 31, 2021 consist of the following: March 31, December 31, 2022 2021 (In thousands) Prepaid expenses $ 56,931 $ 61,061 Other repossessed assets 2,625 1,945 Investment in Statutory Trust — 1,083 Accounts receivable and other assets 82,686 88,756 $ 142,242 $ 152,845 Prepaid expenses amounting to $56.9 million at March 31, 2022, include prepaid municipal, property and income taxes aggregating to $51.5 million. At December 31, 2021 prepaid expenses amounted to $61.1 million, including prepaid municipal, property and income taxes aggregating to $54.6 million. Other repossessed assets totaled $2.6 million and $1.9 million at March 31, 2022 and December 31, 2021, respectively, that consist mainly of repossessed automobiles, which are recorded at their net realizable value.

DEPOSITS AND RELATED INTEREST

DEPOSITS AND RELATED INTEREST	3 Months Ended
	Mar. 31, 2022
Deposits and Related Interest [Abstract]
DEPOSITS AND RELATED INTEREST	DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of March 31, 2022 and December 31, 2021 consist of the following: March 31, December 31, 2022 2021 (In thousands) Non-interest bearing demand deposits $ 2,667,508 $ 2,501,644 Interest-bearing savings and demand deposits 5,132,245 4,880,476 Retail certificates of deposit 966,567 1,007,577 Institutional certificates of deposit 200,536 202,050 Total core deposits 8,966,856 8,591,747 Brokered deposits 11,366 11,371 Total deposits $ 8,978,222 $ 8,603,118 At March 31, 2022 and December 31, 2021, the aggregate amount of uninsured deposits was $3.626 billion and $3.270 billion, respectively. The weighted average interest rate of OFG’s deposits was 0.35% and 0.49%, respectively, at March 31, 2022 and December 31, 2021. Interest expense for the quarters ended March 31, 2022 and 2021 was as follows: Quarter Ended March 31, 2022 2021 Demand and savings deposits $ 4,976 $ 6,371 Certificates of deposit 2,065 5,653 $ 7,041 $ 12,024 At March 31, 2022 and December 31, 2021, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $340.3 million and $360.8 million, respectively. At March 31, 2022 and December 31, 2021, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $248.3 million and $183.8 million, respectively. These public funds were collateralized with commercial loans and securities amounting to $284.9 million and $228.9 million at March 31, 2022 and December 31, 2021, respectively. Excluding accrued interest of approximately $578 thousand and $736 thousand, the scheduled maturities of certificates of deposit at March 31, 2022 and December 31, 2021 are as follows: March 31, 2022 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 245,840 $ 19,710 Over 3 months through 6 months 149,348 28,222 Over 6 months through 1 year 257,661 47,713 652,849 95,645 Over 1 through 2 years 278,011 40,392 Over 2 through 3 years 118,924 18,440 Over 3 through 4 years 75,209 24,046 Over 4 through 5 years 51,546 5,805 Over 5 years 1,352 — $ 1,177,891 $ 184,328 December 31, 2021 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 252,513 25,003 Over 3 months through 6 months 147,400 12,113 Over 6 months through 1 year 239,830 45,280 639,743 82,396 Over 1 through 2 years 328,177 60,108 Over 2 through 3 years 114,403 18,578 Over 3 through 4 years 77,604 22,536 Over 4 through 5 years 58,918 8505 Over 5 years 1,417 — $ 1,220,262 $ 192,123 The table of scheduled maturities of certificates of deposits above includes brokered-deposits and individual retirement accounts. The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans amounted to $392 thousand and $491 thousand as of March 31, 2022 and December 31, 2021, respectively.

BORROWINGS AND RELATED INTEREST

BORROWINGS AND RELATED INTEREST	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
BORROWINGS AND RELATED INTEREST	BORROWINGS AND RELATED INTEREST Advances from the Federal Home Loan Bank of New York Advances are received from the FHLB-NY under an agreement whereby OFG is required to maintain a minimum amount of qualifying collateral with a fair value of at least 110% of the outstanding advances. At March 31, 2022 and December 31, 2021, these advances were secured by mortgage and commercial loans amounting to $910.7 million and $949.0 million, respectively. Also, at March 31, 2022 and December 31, 2021, OFG had an additional borrowing capacity with the FHLB-NY of $664.3 million and $697.3 million, respectively. At March 31, 2022 and December 31, 2021, the weighted average remaining maturity of FHLB’s advances was 1 and 3 days, respectively. The original term of the outstanding advance at March 31, 2022 is 1 month. The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $13 thousand and $8 thousand at March 31, 2022 and December 31, 2021, respectively: March 31, December 31, 2022 2021 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 0.33% (December 31, 2021 - 0.35%) $ 28,022 $ 28,480 Advances from FHLB mature as follows: March 31, December 31, 2022 2021 (In thousands) Under 90 days $ 28,022 $ 28,480 Subordinated Capital Notes In August 2003, the Statutory Trust II, a special purpose entity of OFG, was formed for the purpose of issuing trust redeemable preferred securities. In September 2003, $35.0 million of trust redeemable preferred securities were issued by the Statutory Trust II as part of a pooled underwriting transaction. The proceeds from this issuance were used by the Statutory Trust II to purchase a like amount of a floating rate junior subordinated deferrable interest debenture issued by OFG with a par value of $36.1 million. During the quarter ended March 31, 2022, OFG redeemed of all outstanding $36.1 million subordinated capital notes before maturity, and as a result, it wrote off $405 thousand in unamortized issuance costs, included as interest expense in the consolidated statements of operations. OFG also recorded a gain on early debt extinguishment of $42 thousand included in other non-interest income in the consolidated statements of operations. Prior to redemption, such subordinated capital notes carried an interest rate of 3.23% based on 3-month LIBOR plus 295 basis points and were schedule to mature on September 17, 2033.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESOriental is subject to the dispositions of the PR Code. For 2022, the PR Code imposed a maximum statutory corporate tax rate of 37.5%. OFG has operations in the U.S. through its wholly owned subsidiary OPC, a retirement plan administration based in Florida. In October 2017, OFG expanded its operations in the United States through the Bank’s wholly owned subsidiary, OFG USA. In March 2019, OFG incorporated in Delaware OFG Ventures, a limited liability company, which will hold new investments; and, on December 31, 2019, OFG established new branches in USVI acquired as a result of the Scotiabank Acquisition. The United States subsidiaries are subject to federal income taxes at the corporate level, while the USVI branches are subject to the federal income taxes under a mirror system and a 10% surtax included in the maximum tax rate. OPC is subject to Florida state taxes, OFG USA is subject to North Carolina state taxes, and current investments in OFG Ventures are subject to state taxes in Missouri. In addition, during 2021, OFG incorporated in Grand Cayman, as a foreign wholly owned subsidiary, OFG Reinsurance. OFG Reinsurance is tax exempt in Grand Cayman. As of March 31, 2022 and December 31, 2021, OFG’s net deferred tax asset, net of a valuation allowance of $10.1 million and $9.6 million, respectively, amounted to $87.6 million and $99.1 million, respectively. The increase in valuation allowance of $420 thousand was mainly related to OFG holding company's operations. In assessing the realizability of the deferred tax asset, management considers whether it is more likely than not that some portion or the entire deferred tax asset will not be realized. The ultimate realization of the deferred tax asset is dependent upon the generation of future income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future income, and tax planning strategies in making this assessment. Based upon the assessment of positive and negative evidence, the level of historical taxable income, projections for future taxable income over the periods in which the deferred tax asset are deductible, and provisions of certain closing agreements, management believes it is more likely than not that OFG will realize the benefits of these deductible differences, net of the existing valuation allowances, at March 31, 2022. The amount of the deferred tax asset that is considered realizable could be reduced in the near term if there are changes in estimates of future taxable income. OFG maintained an effective tax rate lower than the statutory rate for the quarters ended March 31, 2022 and 2021 of 30.60% and 31.90%, respectively; the decrease is mainly related to discrete tax windfall on stock options recognized during the quarter ended March 31, 2022. The expected effective tax rate for the year 2022 is 32.40%. OFG classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the effective tax rate if realized. At March 31, 2022, the amount of unrecognized tax benefits was $815 thousand (December 31, 2021 - $798 thousand).

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	3 Months Ended
	Mar. 31, 2022
Capital Disclosure [Abstract]
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS Regulatory Capital Requirements OFG (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on OFG’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, OFG and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. OFG’s and the Bank’s actual capital amounts and ratios as of March 31, 2022 and December 31, 2021 are as follows: Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) OFG Bancorp Ratios As of March 31, 2022 Total capital to risk-weighted assets $ 1,045,437 14.49 % $ 757,543 10.50 % $ 721,469 10.00 % Tier 1 capital to risk-weighted assets $ 955,221 13.24 % $ 613,249 8.50 % $ 577,175 8.00 % Common equity tier 1 capital to risk-weighted assets $ 955,221 13.24 % $ 505,028 7.00 % $ 468,955 6.50 % Tier 1 capital to average total assets $ 955,221 9.54 % $ 400,333 4.00 % $ 500,416 5.00 % As of December 31, 2021 Total capital to risk-weighted assets $ 1,086,897 15.52 % $ 735,512 10.50 % $ 700,488 10.00 % Tier 1 capital to risk-weighted assets $ 999,284 14.27 % $ 595,414 8.50 % $ 560,390 8.00 % Common equity tier 1 capital to risk-weighted assets $ 964,284 13.77 % $ 490,341 7.00 % $ 455,317 6.50 % Tier 1 capital to average total assets $ 999,284 9.69 % $ 412,359 4.00 % $ 515,449 5.00 % Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of March 31, 2022 Total capital to risk-weighted assets $ 1,000,591 13.93 % $ 754,127 10.50 % $ 718,216 10.00 % Tier 1 capital to risk-weighted assets $ 910,777 12.68 % $ 610,484 8.50 % $ 574,573 8.00 % Common equity tier 1 capital to risk-weighted assets $ 910,777 12.68 % $ 502,751 7.00 % $ 466,840 6.50 % Tier 1 capital to average total assets $ 910,777 9.17 % $ 397,348 4.00 % $ 496,685 5.00 % As of December 31, 2021 Total capital to risk-weighted assets $ 995,549 14.34 % $ 728,867 10.50 % $ 694,159 10.00 % Tier 1 capital to risk-weighted assets $ 908,717 13.09 % $ 590,035 8.50 % $ 555,327 8.00 % Common equity tier 1 capital to risk-weighted assets $ 908,717 13.09 % $ 485,911 7.00 % $ 451,203 6.50 % Tier 1 capital to average total assets $ 908,717 8.87 % $ 409,855 4.00 % $ 512,319 5.00 %

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Preferred Stock and Common Stock During the year ended December 31, 2021, OFG redeemed all of its outstanding Series A, Series B and Series D preferred stock at a redemption price of $25.00 per share. As a result of such redemptions, OFG no longer has any outstanding preferred stock. At both March 31, 2022 and December 31, 2021, common stock amounted to $59.9 million. Additional Paid-in Capital Additional paid-in capital represents contributed capital in excess of par value of common stock, net of the costs of issuance. At both March 31, 2022 and December 31, 2021, accumulated common stock issuance costs charged against additional paid-in capital amounted to $13.6 million. Legal Surplus The Puerto Rico Banking Act requires that a minimum of 10% of the Bank’s net income for the year be transferred to a reserve fund until such fund (legal surplus) equals the total paid in capital on common and preferred stock. At March 31, 2022 and December 31, 2021, the Bank’s legal surplus amounted to $121.4 million and $117.7 million, respectively. The amount transferred to the legal surplus account is not available for the payment of dividends to shareholders. Treasury Stock In January 2022, OFG announced the approval by the Board of Directors of a stock repurchase program to purchase $100 million of its outstanding shares of common stock. The shares of common stock repurchased are held by OFG as treasury shares. During the quarter ended March 31, 2022, OFG repurchased 1,219,132 shares for a total of $33.5 million at an average price of $27.46 per share. OFG did not purchase any shares of its common stock during the quarter ended March 31, 2022, other than through its publicly announced stock repurchase programs. During the quarter ended March 31, 2021, OFG did not repurchase any shares of its common stock. At March 31, 2022 the number of shares that may yet be purchased under the $100 million program is estimated at 2,497,051 and was calculated by dividing the remaining balance of $66.5 million by $26.64 (closing price of OFG’s common stock at March 31, 2022). The activity in connection with common shares held in treasury by OFG for the quarters ended March 31, 2022 and 2021 is set forth below: Quarter Ended March 31, 2022 2021 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 10,248,882 $ 150,572 8,498,163 $ 102,949 Common shares used upon lapse of restricted stock units and options (255,893) (3,334) (192,174) (1,955) Common shares repurchased as part of the stock repurchase programs 1,219,132 33,479 — — End of period 11,212,121 $ 180,717 8,305,989 $ 100,994

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive (loss) income, net of income taxes, as of March 31, 2022 and December 31, 2021 consisted of: March 31, December 31, 2022 2021 (In thousands) Unrealized (loss) gain on securities available-for-sale which are not $ (23,460) $ 7,292 Income tax effect of unrealized loss (gain) on securities available-for-sale 2,938 (1,629) Net unrealized (loss) gain on securities available-for-sale which are not (20,522) 5,663 Unrealized loss on cash flow hedges (185) (804) Income tax effect of unrealized loss on cash flow hedges 69 301 Net unrealized loss on cash flow hedges (116) (503) Accumulated other comprehensive (loss) income, net of income taxes $ (20,638) $ 5,160 The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 5,663 $ (503) $ 5,160 Other comprehensive (loss) income before reclassifications (26,187) 194 (25,993) Amounts reclassified out of accumulated other comprehensive income 2 193 195 Other comprehensive (loss) income (26,185) 387 (25,798) Ending balance $ (20,522) $ (116) $ (20,638) Quarter Ended March 31, 2021 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 12,092 $ (1,070) $ 11,022 Other comprehensive (loss) income before reclassifications (4,948) (304) (5,252) Amounts reclassified out of accumulated other comprehensive income 1 459 460 Other comprehensive (loss) income (4,947) 155 (4,792) Ending balance $ 7,145 $ (915) $ 6,230 The following table presents reclassifications out of accumulated other comprehensive (loss) income for the quarters ended March 31, 2022 and 2021: Amount reclassified out of accumulated other comprehensive income Quarter Ended March 31, Affected Line Item in 2022 2021 (In thousands) Cash flow hedges: Interest-rate contracts $ 193 $ 459 Net interest expense Available-for-sale securities: Tax effect from changes in tax rates 2 1 Income tax expense $ 195 $ 460

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The calculation of earnings per common share for the quarters ended March 31, 2022 and 2021 is as follows: Quarter Ended March 31, 2022 2021 (In thousands, except per share data) Net income $ 37,521 $ 30,373 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) — (1,255) Income available to common shareholders $ 37,521 $ 29,118 Average common shares outstanding 48,968 51,397 Effect of dilutive securities: Average potential common shares-options 516 355 Total weighted average common shares outstanding and equivalents 49,484 51,752 Earnings per common share - basic $ 0.77 $ 0.57 Earnings per common share - diluted $ 0.76 $ 0.56 For the quarters ended March 31, 2022 and 2021, OFG did not have weighted-average stock options with an anti-dilutive effect on earnings per share. During the quarter ended March 31, 2022, OFG increased its quarterly common stock cash dividend to $0.15 per share.

GUARANTEES

GUARANTEES	3 Months Ended
	Mar. 31, 2022
Guarantees [Abstract]
GUARANTEES	GUARANTEES At March 31, 2022 and December 31, 2021, the notional amount of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $29.4 million and $25.2 million, respectively. OFG has a liability for residential mortgage loans sold subject to credit recourse pursuant to GNMA’s and FNMA’s residential mortgage loan sales and securitization programs. At March 31, 2022 and December 31, 2021, the unpaid principal balance of residential mortgage loans sold subject to credit recourse was $118.7 million and $121.8 million, respectively. The following table shows the changes in OFG’s liability for estimated losses from these credit recourse agreements, included in the consolidated statements of financial condition during the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 2021 (In thousands) Balance at beginning of period $ 294 $ 218 Net recoveries (charge-offs/terminations) (100) (23) Balance at end of period $ 194 $ 195 The estimated losses to be absorbed under the credit recourse arrangements were recorded as a liability when the credit recourse was assumed and are updated on a quarterly basis. The expected loss, which represents the amount expected to be lost on a given loan, considers the probability of default and loss severity. The probability of default represents the probability that a loan in good standing would become 120 days delinquent, in which case OFG is obligated to repurchase the loan. If a borrower defaults, pursuant to the credit recourse provided, OFG is required to repurchase the loan or reimburse the third-party investor for the incurred loss. The maximum potential amount of future payments that OFG would be required to make under the recourse arrangements is equivalent to the total outstanding balance of the residential mortgage loans serviced with recourse and interest, if applicable. During the quarters ended March 31, 2022 and 2021, OFG repurchased $718 thousand and $980 thousand, respectively, in mortgage loans subject to credit resource. If a borrower defaults, OFG has rights to the underlying collateral securing the mortgage loan. OFG suffers losses on these mortgage loans when the proceeds from a foreclosure sale of the collateral property are less than the outstanding principal balance of the loan, any uncollected interest advanced, and the costs of holding and disposing the related property. At March 31, 2022, OFG’s liability for estimated credit losses related to loans sold with credit recourse amounted to $194 thousand (December 31, 2021– $294 thousand). When OFG sells or securitizes mortgage loans, it generally makes customary representations and warranties regarding the characteristics of the loans sold. OFG’s mortgage operations division groups conforming mortgage loans into pools which are exchanged for FNMA and GNMA mortgage-backed securities, which are generally sold to private investors, or are sold directly to FNMA or other private investors for cash. As required under such mortgage-backed securities programs, quality review procedures are performed by OFG to ensure that asset guideline qualifications are met. To the extent the loans do not meet specified characteristics, OFG may be required to repurchase such loans or indemnify for losses and bear any subsequent loss related to the loans. During the quarter ended March 31, 2022, OFG repurchased $7.8 million (March 31, 2021 – $12.6 million) of unpaid principal balance in mortgage loans, excluding mortgage loans subject to credit recourse provision referred above. At March 31, 2022 and December 31, 2021, OFG had a $2.9 million and a $3.4 million, respectively, liability for the estimated credit losses related to these loans. During the quarter ended March 31, 2022 and 2021, OFG recognized $100 thousand and $22 thousand in gains, net of reserves, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $2 thousand in gains and $1.3 million in losses, respectively, from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments In the normal course of business, OFG becomes a party to credit-related financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby and commercial letters of credit, and financial guarantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated statements of financial condition. The contract or notional amount of those instruments reflects the extent of OFG’s involvement in particular types of financial instruments. OFG’s exposure to credit losses in the event of nonperformance by the counterparty to the financial instrument for commitments to extend credit, including commitments under credit card arrangements, and commercial letters of credit is represented by the contractual notional amounts of those instruments, which do not necessarily represent the amounts potentially subject to risk. In addition, the measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are identified. OFG uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Credit-related financial instruments at March 31, 2022 and December 31, 2021 were as follows: March 31, December 31, 2022 2021 (In thousands) Commitments to extend credit $ 1,349,603 $ 1,365,273 Commercial letters of credit 26,068 48,196 Commitments to extend credit represent agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. OFG evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by OFG upon the extension of credit, is based on management’s credit evaluation of the counterparty. At March 31, 2022 and December 31, 2021, commitments to extend credit consisted mainly of undisbursed available amounts on commercial lines of credit, construction loans, and revolving credit card arrangements. Since many of the unused commitments are expected to expire unused or be only partially used, the total amount of these unused commitments does not necessarily represent future cash requirements. Commercial letters of credit are issued or confirmed to guarantee payment of customers’ payables or receivables in short-term international trade transactions. Generally, drafts will be drawn when the underlying transaction is consummated as intended. However, the short-term nature of this instrument serves to mitigate the risk associated with these contracts. The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at March 31, 2022 and December 31, 2021, is as follows: March 31, December 31, 2022 2021 (In thousands) Standby letters of credit and financial guarantees $ 29,395 $ 25,203 Loans sold with recourse 118,742 121,778 Standby letters of credit and financial guarantees are written conditional commitments issued by OFG to guarantee the payment and/or performance of a customer to a third party (“beneficiary”). If the customer fails to comply with the agreement, the beneficiary may draw on the standby letter of credit or financial guarantee as a remedy. The amount of credit risk involved in issuing letters of credit in the event of non-performance is the face amount of the letter of credit or financial guarantee. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The amount of collateral obtained, if it is deemed necessary by OFG upon extension of credit, is based on management’s credit evaluation of the customer. At March 31, 2022 and December 31, 2021, the allowance for credit losses for off-balance sheet credit exposures corresponding to commitments to extend credit and standby letters of credit amounted to $857 thousand and $1.0 million, respectively, and is included in other liabilities in the statement of financial condition. At March 31, 2022 and December 31, 2021, OFG maintained other non-credit commitments amounting to $23.0 million and $8.9 million, respectively, primarily for the acquisition of equity securities. In addition, as we continue to transform OFG with a focus on simplification and building a culture of excellence and customer service, we continue to invest in technology. Some of our technology investments are table stakes and required to continuously upgrade our systems. Others require us to focus our technology on investments that drive our strategy, namely digital, data analytics, cloud migration, cyber security, and our sales and service capabilities. At March 31, 2022 and December 31, 2021, OFG had commitments for capital expenditures in technology amounting to $13.9 million and $15.4 million, respectively. Contingencies OFG and its subsidiaries are defendants in a number of legal proceedings incidental to their business. In the ordinary course of business, OFG and its subsidiaries are also subject to governmental and regulatory examinations. Certain subsidiaries of OFG, including the Bank (and its subsidiary, OIB), Oriental Financial Services, and Oriental Insurance, are subject to regulation by various U.S., Puerto Rico and other regulators. OFG seeks to resolve all arbitration, litigation and regulatory matters in the manner management believes is in the best interests of OFG and its shareholders, and contests allegations of liability or wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. In accordance with applicable accounting guidance, OFG establishes an accrued liability when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. As a matter develops, OFG, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. Once the loss contingency is deemed to be both probable and estimable, OFG will establish an accrued liability and record a corresponding amount of expense. At March 31, 2022 and December 31, 2021, this accrued liability amounted to $4.9 million and $7.0 million, respectively. OFG continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Subject to the accounting and disclosure framework under the provisions of ASC 450, it is the opinion of OFG’s management, based on current knowledge and after taking into account its current legal accruals, that the eventual outcome of all matters would not be likely to have a material adverse effect on the consolidated statements of financial condition of OFG. Nonetheless, given the substantial or indeterminate amounts sought in certain of these matters, and the inherent unpredictability of such matters, an adverse outcome in certain of these matters could, from time to time, have a material adverse effect on OFG’s consolidated results of operations or cash flows in particular quarterly or annual periods. OFG has

OPERATING LEASES

OPERATING LEASES	3 Months Ended
	Mar. 31, 2022
Lessee Disclosure [Abstract]
OPERATING LEASES	OPERATING LEASES Substantially all leases in which OFG is the lessee are comprised of real estate property for branches, ATM locations, and office space with terms extending through 2038. OFG’s leases do not contain residual value guarantees or material variable lease payments. All leases are classified as operating leases and are included on the consolidated statements of financial condition as a right-of-use asset and a corresponding lease liability. OFG leases to others certain space in its principal offices for terms extending through 2022; all are operating leases. Operating Lease Cost Quarter Ended March 31, 2022 2021 Statement of Operations (In thousands) Lease costs $ 2,555 $ 3,373 Occupancy and equipment Variable lease costs 547 493 Occupancy and equipment Short-term lease cost 255 20 Occupancy and equipment Lease income (77) (120) Occupancy and equipment Total lease cost $ 3,280 $ 3,766 Operating Lease Assets and Liabilities March 31, December 31, 2022 2021 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 28,576 $ 28,846 Operating lease right-of-use assets Lease Liabilities $ 30,287 $ 30,498 Operating leases liabilities March 31, 2022 (In thousands) Weighted-average remaining lease term 5.5 years Weighted-average discount rate 6.6 % Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2022 were as follows: Minimum Rent As of March 31, 2022 (In thousands) 2022 $ 6,898 2023 8,310 2024 6,153 2025 4,556 2026 3,001 Thereafter 7,656 Total lease payments $ 36,574 Less imputed interest 6,288 Present value of lease liabilities $ 30,287

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS OFG follows the fair value measurement framework under U.S. Generally Accepted Accounting Principles (“GAAP”). Fair Value Measurement The fair value measurement framework defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This framework also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Money market investments The fair value of money market investments is based on the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. Investment securities The fair value of investment securities is based on valuations obtained from an independent pricing provider, ICE Data Pricing (formerly known as IDC). ICE is a well-recognized pricing company and an established leader in financial information. Such securities are classified as Level 1 or Level 2 depending on the basis for determining fair value. OFG holds one security categorized as other debt that is classified as Level 3. The estimated fair value of the other debt security is determined by using an adjusted third-party model to calculate the present value of projected future cash flows. The assumptions are highly uncertain and include primarily market discount rates and current spread. The assumptions used are drawn from similar securities that are actively traded in the market and have similar risk characteristics. The valuation is performed on a quarterly basis. Derivative instruments The fair value of the interest rate swaps is largely a function of the financial market’s expectations regarding the future direction of interest rates. Accordingly, current market values are not necessarily indicative of the future impact of derivative instruments on earnings. This will depend, for the most part, on the shape of the yield curve, the level of interest rates, as well as the expectations for rates in the future. The fair value of most of these derivative instruments is based on observable market parameters, which include discounting the instruments’ cash flows using the U.S. dollar LIBOR-based discount rates (or its fallback benchmark when applicable), and also applying yield curves that account for the industry sector and the credit rating of the counterparty and/or OFG. Certain other derivative instruments with limited market activity are valued using externally developed models that consider unobservable market parameters. Based on their valuation methodology, derivative instruments are classified as Level 2. Servicing assets Servicing assets do not trade in an active market with readily observable prices. Servicing assets are priced using a discounted cash flow model. The valuation model considers servicing fees, portfolio characteristics, prepayment assumptions, delinquency rates, late charges, other ancillary revenues, cost to service and other economic factors. Due to the unobservable nature of certain valuation inputs, the servicing rights are classified as Level 3. Foreclosed real estate Foreclosed real estate includes real estate properties securing residential mortgage and commercial loans. The fair value of foreclosed real estate may be determined using an external appraisal, broker price opinion or an internal valuation. These foreclosed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Other repossessed assets Other repossessed assets include repossessed automobiles. The fair value of the repossessed automobiles may be determined using internal valuation and an external appraisal. These repossessed assets are classified as Level 3 given certain internal adjustments that may be made to external appraisals. Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: March 31, 2022 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 10,763 $ 868,021 $ 1,554 $ 880,338 Trading securities — 18 — 18 Money market investments 5,648 — — 5,648 Derivative assets — 6 — 6 Servicing assets — — 49,446 49,446 Derivative liabilities — (191) — (191) $ 16,411 $ 867,854 $ 51,000 $ 935,265 Non-recurring fair value measurements: Collateral dependent loans — — 21,279 21,279 Foreclosed real estate — — 15,297 15,297 Other repossessed assets — — 2,625 2,625 $ — $ — $ 39,201 $ 39,201 December 31, 2021 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 10,825 $ 498,358 $ 1,530 $ 510,713 Trading securities — 20 — 20 Money market investments 8,952 — — 8,952 Derivative assets — 1 — 1 Servicing assets — — 48,973 48,973 Derivative liabilities — (804) — (804) $ 19,777 $ 497,575 $ 50,503 $ 567,855 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 10,233 $ 10,233 Foreclosed real estate — — 15,039 15,039 Other repossessed assets — — 1,945 1,945 $ — $ — $ 27,217 $ 27,217 The fair value information included in the tables above for non-recurring fair value measurements is not as of period end, but as of the date that the fair value measurement was recorded during the quarters ended March 31, 2022 and December 31, 2021, and excludes nonrecurring fair value measurements of assets no longer outstanding as of the reporting date. The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 31, 2022 and 2021: Level 3 Instruments Only Quarter Ended March 31, 2022 2021 Other debt securities available for sale Servicing Assets Total Servicing Assets (In thousands) Balance at beginning period $ 1,530 $ 48,973 $ 50,503 $ 47,295 New instruments acquired — 1,119 1,119 1,420 Principal repayments and amortization — (1,499) (1,499) (1,507) Gains included in earnings — 853 853 703 Gains included in other comprehensive income 24 — 24 — Balance at end of period $ 1,554 $ 49,446 $ 51,000 $ 47,911 There were no transfers into or out of level 3 during the quarters ended March 31, 2022 and 2021. Servicing assets gains (losses) included in earnings during the quarters ended March 31, 2022 and 2021 were included as mortgage servicing activities in the consolidated statements of operations. There were no changes in unrealized gains and losses from recurring level 3 fair value measurements held at March 31, 2021 during the quarter then ended included in other comprehensive income. For more information on the qualitative information about level 3 fair value measurements, see Note 7 – Servicing Assets. During the quarters ended March 31, 2022 and 2021, there were purchases and sales of assets and liabilities measured at fair value on a recurring basis. The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at March 31, 2022: March 31, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Other debt securities available-for-sale $ 1,554 Cash flow valuation Credit Rating Baa1 - Baa3 Baa2 Probability of Default Rate 0.16% - 2.28% 0.33 % Recovery Rate 34.73 % 34.73 % Servicing assets $ 49,446 Cash flow valuation Constant prepayment rate 3.88% - 24.30% 5.97 % Discount rate 10.00% - 15.50% 11.46 % Collateral dependent loans $ 21,279 Fair value of property Appraised value less disposition costs 10.20% - 30.20% 17.20 % Foreclosed real estate $ 15,297 Fair value of property Appraised value less disposition costs 10.20% - 30.20% 11.79 % Other repossessed assets $ 2,625 Fair value of property Estimated net realizable value less disposition costs 26.00% - 82.00% 56.16 % Information about Sensitivity to Changes in Significant Unobservable Inputs Other debt security available for sale – The significant unobservable inputs used in the fair value measurement of one of OFG’s other debt securities is a discounted cash flow methodology (DCF). DCF is a valuation method that uses the concept of the time value of money. The methodology used the future cash flows discounted through a yield to obtain a net present value. Assumptions applied in the model are obtained from Moody’s Default Trends. Servicing assets – The significant unobservable inputs used in the fair value measurement of OFG’s servicing assets are constant prepayment rates and discount rates. Changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which may magnify or offset the sensitivities. Mortgage banking activities, a component of total banking and financial service revenue in the consolidated statements of operations, include the changes from period to period in the fair value of the mortgage loan servicing rights, which may result from changes in the valuation model inputs or assumptions (principally reflecting changes in discount rates and prepayment speed assumptions) and other changes, including changes due to collection/realization of expected cash flows. Fair Value of Financial Instruments The information about the estimated fair value of financial instruments required by GAAP is presented hereunder. The aggregate fair value amounts presented do not necessarily represent management’s estimate of the underlying value of OFG. The estimated fair value is subjective in nature, involves uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could affect these fair value estimates. The fair value estimates do not take into consideration the value of future business and the value of assets and liabilities that are not financial instruments. Other significant tangible and intangible assets that are not considered financial instruments are the value of long-term customer relationships of retail deposits, and premises and equipment. The estimated fair value and carrying value of OFG’s financial instruments at March 31, 2022 and 2021 is as follows: March 31, December 31, 2022 2021 Fair Carrying Fair Carrying (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 1,855,554 $ 1,855,554 $ 2,023,475 $ 2,023,475 Restricted cash $ 175 $ 175 $ 175 $ 175 Investment securities available-for-sale $ 10,763 $ 10,763 $ 10,825 $ 10,825 Level 2 Financial Assets: Trading securities $ 18 $ 18 $ 20 $ 20 Investment securities available-for-sale $ 868,021 $ 868,021 $ 498,358 $ 498,358 Investment securities held-to-maturity $ 329,969 $ 359,806 $ 363,653 $ 367,507 Federal Home Loan Bank (FHLB) stock $ 5,946 $ 5,946 $ 5,966 $ 5,966 Equity securities $ 12,610 $ 12,610 $ 11,612 $ 11,612 Derivative assets $ 6 $ 6 $ 1 $ 1 Financial Liabilities: Derivative liabilities $ 191 $ 191 $ 804 $ 804 Level 3 Financial Assets: Investment securities available for sale $ 1,554 $ 1,554 $ 1,530 $ 1,530 Total loans (including loans held-for-sale) $ 6,360,479 $ 6,449,130 $ 6,197,347 $ 6,329,311 Accrued interest receivable $ 56,097 $ 56,097 $ 56,560 $ 56,560 Servicing assets $ 49,446 $ 49,446 $ 48,973 $ 48,973 Accounts receivable and other assets $ 82,686 $ 82,686 $ 88,756 $ 88,756 Financial Liabilities: Deposits $ 8,987,296 $ 8,978,222 $ 8,614,073 $ 8,603,118 Advances from FHLB $ 28,022 $ 28,035 $ 28,480 $ 28,488 Subordinated capital notes $ — $ — $ 36,084 $ 36,083 Accrued expenses and other liabilities $ 83,492 $ 83,492 $ 96,240 $ 96,240 The following methods and assumptions were used to estimate the fair values of significant financial instruments at March 31, 2022 and December 31, 2021: • Cash and cash equivalents (including money market investments and time deposits with other banks), restricted cash, accrued interest receivable, accounts receivable and other assets, and accrued expenses and other liabilities have been valued at the carrying amounts reflected in the consolidated statements of financial condition as these are reasonable estimates of fair value given the short-term nature of the instruments. • Investments in FHLB-NY stock are valued at their redemption value. • The fair value of investment securities, including trading securities, is based on quoted market prices, when available or prices provided from contracted pricing providers, or market prices provided by recognized broker-dealers. If listed prices or quotes are not available, fair value is based upon externally developed models that use both observable and unobservable inputs depending on the market activity of the instrument. Equity securities do not have readily available fair values and are measured at cost, less any impairment. The estimated fair value of the convertible note is determined by using an adjusted third-party cash flow valuation model to calculate the present value of projected future cash flows. The assumptions used which are highly uncertain and require a high degree of judgment, include primarily market discount rates, current spreads, duration, leverage, default, and loss rates. The assumptions used are drawn from a wide array of data sources, including the performance of the collateral underlying each deal. The valuation, which is obtained at least on a quarterly basis, is analyzed and its assumptions are evaluated and incorporated in either an internal-based valuation model, when deemed necessary, or compared to counterparties’ prices and agreed by management. • The fair value of servicing asset is estimated by using a cash flow valuation model which calculates the present value of estimated future net servicing cash flows, taking into consideration actual and expected loan prepayment rates, discount rates, servicing costs, and other economic factors, which are determined based on current market conditions. • The fair values of the derivative instruments, which include interest rate swaps and forward-settlement swaps, are based on the net discounted value of the contractual projected cash flows of both the pay-fixed receive-variable legs of the contracts. The projected cash flows are based on the forward yield curve and discounted using current estimated market rates. • The fair value of the loan portfolio (including loans held-for-sale and non-performing loans) is based on the exit market price, which is estimated by segregating by type, such as mortgage, commercial, consumer, auto and leasing. Each loan segment is further segmented into fixed and adjustable interest rates. The fair value is calculated by discounting contractual cash flows, adjusted for prepayment estimates (voluntary and involuntary), if any, using estimated current market discount rates that reflect the credit and interest rate risk inherent in the loan. • The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is based on the discounted value of the contractual cash flows, using estimated current market discount rates for deposits of similar remaining maturities. • The fair value of long-term borrowings, which include advances from FHLB and subordinated capital notes is based on the discounted value of the contractual cash flows using current estimated market discount rates for borrowings with similar terms, remaining maturities and put dates.

BANKING AND FINANCIAL SERVICE R

BANKING AND FINANCIAL SERVICE REVENUES	3 Months Ended
	Mar. 31, 2022
Banking and Thrift, Interest [Abstract]
BANKING AND FINANCIAL SERVICE REVENUES	BANKING AND FINANCIAL SERVICE REVENUES The following table presents the major categories of banking and financial service revenues for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 2021 (In thousands) Banking service revenues: Checking accounts fees $ 2,145 $ 1,962 Savings accounts fees 279 252 Electronic banking fees 13,094 12,883 Credit life commissions 304 117 Branch service commissions 360 361 Servicing and other loan fees 1,137 765 International fees 239 151 Miscellaneous income 4 6 Total banking service revenues 17,562 16,497 Wealth management revenue: Insurance income 3,034 2,231 Broker fees 1,889 2,124 Trust fees 2,741 2,781 Retirement plan and administration fees 193 252 Total wealth management revenue 7,857 7,388 Mortgage banking activities: Net servicing fees 4,363 4,351 Net gains on sale of mortgage loans and valuation 1,315 2,492 Other 104 (1,270) Total mortgage banking activities 5,782 5,573 Total banking and financial service revenues $ 31,201 $ 29,458 OFG recognizes the revenue from banking services, wealth management and mortgage banking based on the nature and timing of revenue streams from contracts with customer: Banking Service Revenues Electronic banking fees are credit and debit card processing services, use of the Bank’s ATMs by non-customers, debit card interchange income and service charges on deposit accounts. Revenue is recorded once the contracted service has been provided. Service charges on checking and saving accounts as consumer periodic maintenance revenue is recognized once the service is rendered, while overdraft and late charges revenue are recorded after the contracted service has been provided. Other income as credit life commissions, servicing and other loan fees, international fees, and miscellaneous fees recognized as banking services revenue are out of the scope of ASC 606 – Revenue from Contracts with Customers. Wealth Management Revenue Insurance income from commissions and sale of annuities are recorded once the sale has been completed. Brokers fees consist of two categories: • Sales commissions generated by advisors for their clients’ purchases and sales of securities and other investment products, which are collected once the stand-alone transactions are completed at trade date or as earned, and managed account fees which are fees charged to advisors’ clients’ accounts on OFG’s corporate advisory platform. These revenues do not cover future services, as a result there is no need to allocate the amount received to any other service. • Fees for providing distribution services related to mutual funds, net of compensation paid to a service provider who provides such services, as well as trailer fees (also known as 12b-1 fees). These fees are considered variable and are recognized over time, as the uncertainty of the fees to be received is resolved as the net asset value of the mutual fund is determined and investor activity occurs. Fees do not cover future services, as a result there is no need to allocate the amount received to any other service. Retirement plan and administration fees are revenues related to the payment received from the clients of OPC for assistance with the planning, design and administration of retirement plans, acting as third-party administrator for such plans, and daily record keeping services of retirement plans. Fees are collected once the stand-alone transaction was completed at trade date. Fees do not cover future services, as a result there is no need to allocate the amount received to any other service. Trust fees are revenues related to fiduciary services provided to 401K retirement plans, an IRA trust, and retirement plans, which include investment management, payment of distributions, if any, safekeeping, custodial services of plan assets, servicing of Trust officers, on-going due diligence of the Trust, recordkeeping of transactions, and investment advisory services provided to a registered investment company. Fees are billed based on services contracted. Negotiated fees are detailed in the contract. Fees collected in advance, are amortized over the term of the contract. Fees are collected on a monthly basis once the administrative service has been completed. Monthly fee does not include future services. Investment banking fees as compensation fees are out of the scope of ASC 606. Mortgage Banking Activities Mortgage banking activities as servicing fees, gain on sale of mortgage loans valuation and other are out of the scope of ASC 606.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS OFG segregates its businesses into the following major reportable segments of business: Banking, Wealth Management, and Treasury. Management established the reportable segments based on the internal reporting used to evaluate performance and to assess where to allocate resources. Other factors such as OFG’s organization, nature of its products, distribution channels and economic characteristics of the products were also considered in the determination of the reportable segments. OFG measures the performance of these reportable segments based on pre-established goals of different financial parameters such as net income, net interest income, loan production, and fees generated. OFG’s methodology for allocating non-interest expenses among segments is based on several factors such as revenue, employee headcount, occupied space, dedicated services or time, among others. These factors are reviewed on a periodical basis and may change if the conditions warrant. Banking includes the Bank’s branches and traditional banking products such as deposits and commercial, consumer and mortgage loans. Mortgage banking activities are carried out by the Bank’s mortgage banking division, whose principal activity is to originate mortgage loans for OFG’s own portfolio. As part of its mortgage banking activities, OFG may sell loans directly into the secondary market or securitize conforming loans into mortgage-backed securities. Wealth Management is comprised of the Bank’s trust division, Oriental Financial Services, Oriental Insurance, OFG Reinsurance and OPC. The core operations of this segment are financial planning, money management and investment banking, brokerage services, investment advisory services, insurance, corporate and individual trust and retirement services, as well as retirement plan administration services. The Treasury segment encompasses all of OFG’s asset/liability management activities, such as purchases and sales of investment securities, interest rate risk management, derivatives, and borrowings. Intersegment sales and transfers, if any, are accounted for as if the sales or transfers were to third parties, that is, at current market prices. Following are the results of operations and the selected financial information by operating segment for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 108,483 $ 5 $ 4,461 $ 112,949 $ — $ 112,949 Interest expense (7,532) — (223) (7,755) — (7,755) Net interest income 100,951 5 4,238 105,194 — 105,194 Provision (recapture of) for credit losses 1,710 — (159) 1,551 — 1,551 Non-interest income 23,550 8,006 50 31,606 — 31,606 Non-interest expenses (75,916) (4,585) (654) (81,155) — (81,155) Intersegment revenue 489 — — 489 (489) — Intersegment expenses — (343) (146) (489) 489 — Income before income taxes 47,364 3,083 3,647 54,094 — 54,094 Income tax expense 16,564 — 9 16,573 — 16,573 Net income $ 30,800 $ 3,083 $ 3,638 $ 37,521 $ — $ 37,521 Total assets $ 8,176,217 $ 24,695 $ 3,036,638 $ 11,237,550 $ (1,047,430) $ 10,190,120 Quarter Ended March 31, 2021 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 108,230 $ 12 $ 2,734 $ 110,976 $ — $ 110,976 Interest expense (12,136) — (642) (12,778) — (12,778) Net interest income 96,094 12 2,092 98,198 — 98,198 Provision (recapture of) for credit losses 6,588 — (264) 6,324 — 6,324 Non-interest income 22,873 7,531 9 30,413 — 30,413 Non-interest expenses (73,874) (2,829) (963) (77,666) — (77,666) Intersegment revenue 553 — — 553 (553) — Intersegment expenses — (291) (262) (553) 553 — Income before income taxes 39,058 4,423 1,140 44,621 — 44,621 Income tax expense 14,236 — 12 14,248 — 14,248 Net income $ 24,822 $ 4,423 $ 1,128 $ 30,373 $ — $ 30,373 Total assets $ 8,312,367 $ 28,505 $ 2,849,709 $ 11,190,581 $ (1,037,239) $ 10,153,342

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations OFG is a publicly-owned financial holding company incorporated under the laws of the Commonwealth of Puerto Rico. OFG operates through various subsidiaries including, a commercial bank, Oriental Bank (the “Bank”), a securities broker-dealer and investment adviser, Oriental Financial Services LLC (“Oriental Financial Services”), an insurance agency, Oriental Insurance, LLC (“Oriental Insurance”), a captive reinsurance company organized under the laws of the Cayman Islands, OFG Reinsurance Ltd (“OFG Reinsurance”), and a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), and OFG Ventures LLC (“OFG Ventures”), which holds investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer and mortgage lending, leasing, auto loans, financial planning, insurance sales, money management and investment banking and brokerage services, as well as corporate and individual trust services. Basis of Presentation The accompanying unaudited consolidated financial statements of OFG have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with guidance provided by the Securities and Exchange Commission. Accordingly, these consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows of OFG on a consolidated basis, and all such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Operating results for three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The Company evaluated subsequent events through the filing date of its quarterly report on Form 10-Q with the SEC and has recorded or disclosed those material events or transactions as described within the accompanying consolidated financial statements and notes.
New Accounting Updates Adopted in 2022 and New Accounting Updates Not Yet Adopted	New Accounting Updates Adopted in 2022 Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. In August 2020, the FASB issued ASU 2020-06 to clarify the accounting for certain financial instruments with characteristics of liabilities and equity. The amendments in this update reduce the number of accounting models for convertible debt instruments and convertible preferred stock by removing the cash conversion model and the beneficial conversion feature model. Limiting the accounting models will result in fewer embedded conversion features being separately recognized from the host contract. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in-capital. In addition, this ASU improves disclosure requirements for convertible instruments and earnings-per-share guidance. The ASU also revises the derivative scope exception guidance to reduce form-over-substance-based accounting conclusions driven by remote contingent events. The amendments in this update are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Our adoption of this standard did not have a material impact on our financial statements. Lessors—Certain Leases with Variable Lease Payments. FASB ASC 842 – In July 2021, the FASB issued ASU 2021-05 to amend the lease classification requirements for lessors to align them with practice under ASC Topic 840. Lessors should classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if both of the following criteria are met: (1) The lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria in ASC paragraphs 842-10-25-2 through 25-3; and (2) The lessor would have otherwise recognized a day-one loss. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset, and, therefore, does not recognize a selling profit or loss. The amendments in this update are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Our adoption of this standard did not have a material impact on our financial statements. New Accounting Updated Not Yet Adopted Derivatives and Hedging (Topic 815) Fair Value Hedging—Portfolio Layer Method. In March 2022, the FASB issued ASU 2022-01 to allow non-prepayable financial assets also to be included in a closed portfolio hedged using the portfolio layer method. That expanded scope permits an entity to apply the same portfolio hedging method to both prepayable and non-prepayable financial assets, thereby allowing consistent accounting for similar hedge. The amendments in this update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this ASU for any entity that has adopted the amendments in ASU 2017-12 for the corresponding period. If an entity adopts the amendments in an interim period, the effect of adopting the amendments related to basis adjustments should be reflected as of the beginning of the fiscal year of adoption. OFG will adopt this guidance when it becomes effective and the impact on our financial statements is not expected to be material. Financial Instruments—Credit Losses Troubled Debt Restructurings and Vintage Disclosures. In March 2022, the FASB issued ASU 2022-02 to address the accounting guidance on troubled debt restructurings (TDRs) for creditors in ASC 310-402 and amend the guidance on vintage disclosures to require disclosure of current-period gross write-offs by year of origination. The ASU also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancing and restructurings for borrowers experiencing financial difficulty. The amendments in this update are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Entities are permitted to early adopt these amendments, including adoption in any interim period, provided that the amendments are adopted as of the beginning of the annual reporting period that includes the interim period of adoption. In addition, entities are permitted to elect to early adopt the amendments related to TDR accounting and related disclosure enhancements separately from the amendments related to the vintage disclosures. OFG is currently evaluating the impact on the consolidated financial statements upon adoption of this standard.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The amortized cost, gross unrealized gains and losses, fair value, weighted average yield and contractual maturities of the securities owned by OFG at March 31, 2022 and December 31, 2021 were as follows: March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 1 to 5 years 2,020 — 5 $ 2,015 2.13 % Due from 5 to 10 years $ 82,101 $ 2 $ 1,168 $ 80,935 1.94 % Due after 10 years 490,169 — 14,229 $ 475,940 2.25 % Total FNMA and FHLMC certificates 574,290 2 15,402 558,890 2.21 % GNMA Securities Due from 1 to 5 years 16,836 — 146 16,690 1.63 % Due from 5 to 10 years 16,470 — 327 16,143 1.88 % Due after 10 years 261,712 872 8,221 254,363 2.40 % Total GNMA certificates 295,018 872 8,694 287,196 2.32 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 1,523 — 24 1,499 1.70 % Due from 5 to 10 years 18,584 — 300 18,284 1.80 % Due after 10 years 1,325 1 4 1,322 4.53 % Total CMOs issued by US government-sponsored agencies 21,432 1 328 21,105 1.96 % Total mortgage-backed securities 890,740 875 24,424 867,191 2.24 % Investment securities US Treasury securities Due less than 1 year 10,735 28 — 10,763 1.49 % Total US Treasury Securities 10,735 28 — 10,763 1.49 % Other debt securities Due less than 1 year 500 — — 500 0.57 % Due from 1 to 5 years 1,823 61 — 1,884 5.46 % Total Other debt securities 2,323 61 — 2,384 4.41 % Total investment securities 13,058 89 — 13,147 2.01 % Total securities available for sale $ 903,798 $ 964 $ 24,424 $ 880,338 2.24 % March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years $ 359,806 $ — $ 29,837 $ 329,969 1.71 % December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Available-for-sale Mortgage-backed securities FNMA and FHLMC certificates Due from 5 to 10 years 90,560 2,502 — 93,062 1.94 % Due after 10 years 93,440 — 3,200 90,240 1.37 % Total FNMA and FHLMC certificates 184,000 2,502 3,200 183,302 1.65 % GNMA Securities Due from 1 to 5 years 10,536 233 1 10,768 1.66 % Due from 5 to 10 years 26,419 556 — 26,975 1.80 % Due after 10 years 244,106 6,927 198 250,835 2.40 % Total GNMA certificates 281,061 7,716 199 288,578 2.32 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 1,788 22 — 1,810 1.70 % Due from 5 to 10 years 20,705 299 — 21,004 1.81 % Due after 10 years 1,601 16 1 1,616 4.24 % Total CMOs issued by US government-sponsored agencies 24,094 337 1 24,430 1.96 % Total mortgage-backed securities 489,155 10,555 3,400 496,310 2.05 % Investment securities US Treasury securities Due less than 1 year 10,737 88 — 10,825 1.48 % Total US Treasury Securities 10,737 88 — 10,825 1.48 % Obligations of US government-sponsored agencies Due less than 1 year 1,182 1 — 1,183 1.40 % Total Obligations of US government-sponsored agencies 1,182 1 — 1,183 1.40 % Other debt securities Due less than 1 year 500 — — 500 0.57 % Due from 1 to 5 years 1,847 48 — 1,895 5.43 % Total Other debt securities 2,347 48 — 2,395 4.39 % Total investment securities 14,266 137 — 14,403 1.95 % Total securities available for sale $ 503,421 $ 10,692 $ 3,400 $ 510,713 2.05 % December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Weighted Average Yield (In thousands) Held-to-maturity Mortgage-backed securities FNMA and FHLMC certificates Due after 10 years 367,507 — 3,854 363,653 1.71 %
Schedule of Unrealized Gains and Losses by Category	The following table show OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at March 31, 2022 and December 31, 2021, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: March 31, 2022 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates 91,258 9,884 81,374 GNMA certificates 4,237 256 3,981 $ 95,495 $ 10,140 $ 85,355 March 31, 2022 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 20,744 328 20,416 FNMA and FHLMC certificates 481,614 5,518 476,096 GNMA certificates 273,405 8,438 264,967 $ 775,763 $ 14,284 $ 761,479 Held-to-maturity FNMA and FHLMC certificates $ 359,806 $ 29,837 $ 329,969 March 31, 2022 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 20,744 328 20,416 FNMA and FHLMC certificates 572,872 15,402 557,470 GNMA certificates 277,642 8,694 268,948 $ 871,258 $ 24,424 $ 846,834 Held-to-maturity FNMA and FHLMC certificates $ 359,806 $ 29,837 $ 329,969 December 31, 2021 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies 500 1 499 FNMA and FHLMC certificates 93,440 3,200 90,240 GNMA certificates 5,022 199 4,823 $ 98,962 $ 3,400 $ 95,562 Held-to-maturity FNMA and FHLMC certificates $ 367,507 $ 3,854 $ 363,653

LOANS (Tables)

LOANS (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Schedule of Loan Portfolio	The composition of the amortized cost basis of OFG’s loan portfolio at March 31, 2022 and December 31, 2021 was as follows: March 31, 2022 December 31, 2021 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial loans: Commercial secured by real estate $ 925,644 $ 163,865 $ 1,089,509 $ 883,994 $ 176,186 $ 1,060,180 Other commercial and industrial 805,499 26,761 832,260 759,172 28,149 787,321 Other commercial and industrial - Paycheck Protection Program (PPP Loans) 53,277 — 53,277 86,889 — 86,889 US commercial loans 524,868 — 524,868 444,940 — 444,940 2,309,288 190,626 2,499,914 2,174,995 204,335 2,379,330 Mortgage 704,277 1,144,364 1,848,641 718,848 1,188,423 1,907,271 Consumer: Personal loans 395,656 478 396,134 346,859 546 347,405 Credit lines 13,920 355 14,275 14,775 370 15,145 Credit cards 45,145 — 45,145 46,795 — 46,795 Overdraft 238 — 238 330 — 330 454,959 833 455,792 408,759 916 409,675 Auto and leasing 1,732,859 10,765 1,743,624 1,693,029 13,281 1,706,310 5,201,383 1,346,588 6,547,971 4,995,631 1,406,955 6,402,586 Allowance for credit losses (137,344) (19,731) (157,075) (132,065) (23,872) (155,937) Total loans held for investment, net 5,064,039 1,326,857 6,390,896 4,863,566 1,383,083 6,246,649 Mortgage loans held for sale 26,761 — 26,761 51,096 — 51,096 Other loans held for sale 31,473 — 31,473 31,566 — 31,566 Total loans held for sale 58,234 — 58,234 82,662 — 82,662 Total loans, net $ 5,122,273 $ 1,326,857 $ 6,449,130 $ 4,946,228 $ 1,383,083 $ 6,329,311
Schedule of Aging of Recorded Investment in Gross Loans	March 31, 2022 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial Commercial secured by real estate $ 612 $ 443 $ 12,494 $ 13,549 $ 912,095 $ 925,644 $ — Other commercial and industrial 1,189 356 966 2,511 856,265 858,776 — US commercial loans — — — — 524,868 524,868 — 1,801 799 13,460 16,060 2,293,228 2,309,288 — Mortgage 5,835 7,943 34,883 48,661 655,616 704,277 2,099 Consumer Personal loans 3,097 1,690 1,290 6,077 389,579 395,656 — Credit lines 416 153 110 679 13,241 13,920 — Credit cards 669 405 559 1,633 43,512 45,145 — Overdraft 61 — — 61 177 238 — 4,243 2,248 1,959 8,450 446,509 454,959 — Auto and leasing 54,635 24,856 12,364 91,855 1,641,004 1,732,859 — Total loans $ 66,514 $ 35,846 $ 62,666 $ 165,026 $ 5,036,357 $ 5,201,383 $ 2,099 December 31, 2021 30-59 Day 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial Commercial secured by real estate $ 2,210 $ 102 $ 8,446 $ 10,758 $ 873,236 $ 883,994 $ — Other commercial and industrial 1,886 538 946 3,370 842,691 846,061 — US commercial loans — — — — 444,940 444,940 — 4,096 640 9,392 14,128 2,160,867 2,174,995 — Mortgage 8,704 7,855 43,468 60,027 658,821 718,848 2,346 Consumer Personal loans 2,382 1,131 1,116 4,629 342,230 346,859 — Credit lines 531 141 227 899 13,876 14,775 — Credit cards 610 336 631 1,577 45,218 46,795 — Overdraft 130 14 — 144 186 330 — 3,653 1,622 1,974 7,249 401,510 408,759 — Auto and leasing 60,038 30,234 13,461 103,733 1,589,296 1,693,029 — Total loans $ 76,491 $ 40,351 $ 68,295 $ 185,137 $ 4,810,494 $ 4,995,631 $ 2,346
Schedule of Investment in Loans on Non-Accrual Status	The following table presents the amortized cost basis of loans on nonaccrual status as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total Non-accrual with Allowance for Credit Loss Non-accrual with no Allowance for Credit Loss Total (In thousands) Non-PCD: Commercial Commercial secured by real estate $ 15,703 $ 17,864 $ 33,567 $ 16,299 $ 19,538 $ 35,837 Other commercial and industrial 1,009 317 1,326 1,284 483 1,767 16,712 18,181 34,893 17,583 20,021 37,604 Mortgage 22,642 3,562 26,204 16,428 12,840 29,268 Consumer Personal loans 1,008 353 1,361 1,143 302 1,445 Personal lines of credit 110 — 110 226 — 226 Credit cards 559 — 559 632 — 632 1,677 353 2,030 2,001 302 2,303 Auto and leasing 12,492 3 12,495 19,827 2 19,829 Total $ 53,523 $ 22,099 $ 75,622 $ 55,839 $ 33,165 $ 89,004 PCD: Commercial Commercial secured by real estate $ 3,682 $ 7,155 $ 10,837 $ 5,205 $ 6,198 $ 11,403 Other commercial and industrial — 40 40 1,102 40 1,142 3,682 7,195 10,877 6,307 6,238 12,545 Mortgage 310 — 310 334 — 334 Total $ 3,992 $ 7,195 $ 11,187 $ 6,641 $ 6,238 $ 12,879 Total non-accrual loans $ 57,515 $ 29,294 $ 86,809 $ 62,480 $ 39,403 $ 101,883
Schedule of Troubled Debt Restructurings	The following table presents the troubled-debt restructurings in all loan portfolios as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Accruing Non-accruing Total Related Allowance Accruing Non-accruing Total Related Allowance (In thousands) Commercial loans: Commercial secured by real estate $ 6,505 $ 14,476 $ 20,981 $ 118 $ 10,981 $ 14,444 $ 25,425 $ 202 Other commercial and industrial 2,802 301 3,103 72 2,785 473 3,258 41 US commercial loans 7,143 — 7,143 126 7,156 — 7,156 126 16,450 14,777 31,227 316 20,922 14,917 35,839 369 Mortgage 103,962 9,572 113,534 3,685 101,487 9,475 110,962 3,867 Consumer: Personal loans 2,874 71 2,945 141 3,275 139 3,414 159 Auto and leasing 141 — 141 5 203 8 211 11 Total loans $ 123,427 $ 24,420 $ 147,847 $ 4,147 $ 125,887 $ 24,539 $ 150,426 $ 4,406 The following tables present the troubled-debt restructurings by loan portfolios and modification type as of March 31, 2022 and December 31, 2021 : March 31, 2022 Reduction in interest rate Maturity or term extension Combination of reduction in interest rate and extension of maturity Forbearance Total (In thousands) Commercial loans: Commercial secured by real estate $ 8,265 $ 1,160 $ 8,287 $ 3,269 $ 20,981 Other commercial and industrial 713 1,863 502 25 3,103 US commercial loans 7,143 — — — 7,143 16,121 3,023 8,789 3,294 31,227 Mortgage 37,810 6,918 34,739 34,067 113,534 Consumer: Personal loans 1,280 265 1,237 163 2,945 Auto and leasing 46 — 26 69 141 Total loans $ 55,257 $ 10,206 $ 44,791 $ 37,593 $ 147,847 December 31, 2021 Reduction in interest rate Maturity or term extension Combination of reduction in interest rate and extension of maturity Forbearance Total (In thousands) Commercial loans: Commercial secured by real estate $ 8,461 $ 1,227 $ 12,401 $ 3,336 $ 25,425 Other commercial and industrial 723 1,985 522 28 3,258 US commercial loans 7,156 — — — 7,156 16,340 3,212 12,923 3,364 35,839 Mortgage 37,307 6,796 32,456 34,403 110,962 Consumer: Personal loans 1,496 287 1,430 201 3,414 Auto and leasing 74 — 28 109 211 Total loans $ 55,217 $ 10,295 $ 46,837 $ 38,077 $ 150,426 Loan modifications that are considered TDR loans completed during the quarters ended March 31, 2022 and 2021 were as follows: Quarter Ended March 31, 2022 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 36 $ 4,700 4.53 % 274 $ 4,863 3.47 % 343 Commercial 2 895 5.60 % 52 752 4.37 % 75 Consumer 1 13 18.20 % 84 13 10.95 % 84 Quarter Ended March 31, 2021 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 26 3,557 3.99 % 300 3,580 3.61 % 333 Commercial 2 185 7.21 % 58 204 6.80 % 58 Consumer 2 16 11.76 % 54 17 9.93 % 63 Auto and leasing 5 82 6.81 % 66 82 9.81 % 36 The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month periods ended March 31, 2022 and 2021: Twelve Month Period Ended March 31, 2022 2021 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 16 $ 1,888 13 $ 1,507 Consumer 5 $ 71 — $ — Auto and leasing 1 $ 10 10 $ 57
Schedule of Aging of the Amortized Cost of Collateral-Dependent Loans Held for Investment	The table below present the amortized cost of collateral-dependent loans held for investment at March 31, 2022 and December 31, 2021, by class of loans. March 31, 2022 December 31, 2021 (In thousands) Commercial loans: Commercial secured by real estate $ 21,279 $ 10,233
Schedule of Credit Quality Indicators of Loans	As of March 31, 2022 and based on the most recent analysis performed, the risk category of loans subject to risk rating by class of loans is as follows. Term Loans Revolving Total 2022 2021 2020 2019 2018 Prior (In thousands) Commercial: Commercial secured by real estate: Loan grade: Pass $ 85,540 $ 183,488 $ 127,605 $ 112,985 $ 77,970 $ 215,510 $ 32,923 $ 836,021 Special Mention — — 968 32,309 4,468 8,980 664 47,389 Substandard — 8,878 10,391 173 1,146 17,253 3,740 41,581 Doubtful — — — — — 20 633 653 Loss — — — — — — — — Total commercial secured by real estate 85,540 192,366 138,964 145,467 83,584 241,763 37,960 925,644 Other commercial and industrial: Loan grade: Pass 47,372 245,506 85,959 40,564 59,694 11,917 344,577 835,589 Special Mention — 231 40 7,748 2,008 3,452 6,288 19,767 Substandard 12 — 348 179 572 100 2,160 3,371 Doubtful — — — — — — 49 49 Loss — — — — — — — — Total other commercial and industrial: 47,384 245,737 86,347 48,491 62,274 15,469 353,074 858,776 US commercial loans: Loan grade: Pass 33,300 81,469 60,798 31,619 46,288 — 233,963 487,437 Special Mention — — — 1,527 19,135 — — 20,662 Substandard — — 7,143 — 9,626 — — 16,769 Doubtful — — — — — — — — Loss — — — — — — — — Total US commercial loans: 33,300 81,469 67,941 33,146 75,049 — 233,963 524,868 Total commercial loans $ 166,224 $ 519,572 $ 293,252 $ 227,104 $ 220,907 $ 257,232 $ 624,997 $ 2,309,288 As of December 31, 2021 and based on the most recent analysis performed, the risk category of loans subject to risk rating by class of loans is as follows. Term Loans Revolving Total 2021 2020 2019 2018 2017 Prior (In thousands) Commercial: Commercial secured by real estate: Loan grade: Pass $ 183,820 $ 120,855 $ 114,208 $ 94,864 $ 52,439 $ 183,026 $ 45,178 $ 794,390 Special Mention 654 628 32,578 4,581 4,053 5,102 643 48,239 Substandard 8,415 10,694 58 849 1,357 17,555 1,671 40,599 Doubtful — — — — — 22 744 766 Loss — — — — — — — — Total commercial secured by real estate 192,889 132,177 146,844 100,294 57,849 205,705 48,236 883,994 Other commercial and industrial: Loan grade: Pass 276,165 93,809 45,976 57,989 6,106 6,004 330,072 816,121 Special Mention 78 23 8,076 2,213 3,525 — 13,642 27,557 Substandard 112 48 155 394 81 28 1,513 2,331 Doubtful — — — — — — 52 52 Loss — — — — — — — — Total other commercial and industrial: 276,355 93,880 54,207 60,596 9,712 6,032 345,279 846,061 US commercial loans: Loan grade: Pass 85,394 61,098 41,924 47,179 — — 171,928 407,523 Special Mention — — 1,515 19,095 — — — 20,610 Substandard — 7,156 — 9,651 — — — 16,807 Doubtful — — — — — — — — Loss — — — — — — — — Total US commercial loans: 85,394 68,254 43,439 75,925 — — 171,928 444,940 Total commercial loans $ 554,638 $ 294,311 $ 244,490 $ 236,815 $ 67,561 $ 211,737 $ 565,443 $ 2,174,995 Term Loans Revolving Revolving Loans Total 2022 2021 2020 2019 2018 Prior (In thousands) Mortgage: Payment performance: Performing $ 6,885 $ 26,893 $ 16,868 $ 14,755 $ 18,411 $ 583,692 $ — $ — $ 667,504 Nonperforming — — 126 341 477 35,829 — — 36,773 Total mortgage loans: 6,885 26,893 16,994 15,096 18,888 619,521 — — 704,277 Consumer: Personal loans: Payment performance: Performing 94,228 159,506 47,338 54,905 24,182 14,136 — — 394,295 Nonperforming 13 235 246 300 128 439 — — 1,361 Total personal loans 94,241 159,741 47,584 55,205 24,310 14,575 — — 395,656 Credit lines: Payment performance: Performing — — — — — — 13,810 — 13,810 Nonperforming — — — — — — 110 — 110 Total credit lines — — — — — — 13,920 — 13,920 Credit cards: Payment performance: Performing — — — — — — 44,586 — 44,586 Nonperforming — — — — — — 559 — 559 Total credit cards — — — — — — 45,145 — 45,145 Overdrafts: Payment performance: Performing — — — — — — 238 — 238 Nonperforming — — — — — — — — — Total overdrafts — — — — — — 238 — 238 Total consumer loans 94,241 159,741 47,584 55,205 24,310 14,575 59,303 — 454,959 Total mortgage and consumer loans $ 101,126 $ 186,634 $ 64,578 $ 70,301 $ 43,198 $ 634,096 $ 59,303 $ — $ 1,159,236 The following table presents the amortized cost in mortgage and consumer loans based on payment activity as of December 31, 2021: Term Loans Revolving Revolving Loans Total 2021 2020 2019 2018 2017 Prior (In thousands) Mortgage: Payment performance: Performing $ 18,486 $ 16,585 $ 15,461 $ 19,261 $ 24,872 $ 584,792 $ — $ — $ 679,457 Nonperforming — 126 129 510 1,830 36,796 — — 39,391 Total mortgage loans: 18,486 16,711 15,590 19,771 26,702 621,588 — — 718,848 Consumer: Personal loans: Payment performance: Performing 175,273 55,960 65,425 29,808 12,287 6,661 — — 345,414 Nonperforming 296 239 411 143 20 336 — — 1,445 Total personal loans 175,569 56,199 65,836 29,951 12,307 6,997 — — 346,859 Credit lines: Payment performance: Performing — — — — — — 14,549 — 14,549 Nonperforming — — — — — — 226 — 226 Total credit lines — — — — — — 14,775 — 14,775 Credit cards: Payment performance: Performing — — — — — — 46,163 — 46,163 Nonperforming — — — — — — 632 — 632 Total credit cards — — — — — — 46,795 — 46,795 Overdrafts: Payment performance: Performing — — — — — — 330 — 330 Nonperforming — — — — — — — — — Total overdrafts — — — — — — 330 — 330 Total consumer loans 175,569 56,199 65,836 29,951 12,307 6,997 61,900 — 408,759 Total mortgage and consumer loans $ 194,055 $ 72,910 $ 81,426 $ 49,722 $ 39,009 $ 628,585 $ 61,900 $ — $ 1,127,607 Term Loans Total 2022 2021 2020 2019 2018 Prior (In thousands) Auto and leasing: FICO score: 1-660 33,276 165,264 85,758 74,524 59,447 52,034 470,303 661-699 33,282 134,368 59,373 42,517 29,540 23,202 322,282 700+ 70,521 248,563 170,553 169,596 120,474 85,393 865,100 No FICO 7,383 23,139 12,669 15,432 9,133 7,418 75,174 Total auto and leasing: $ 144,462 $ 571,334 $ 328,353 $ 302,069 $ 218,594 $ 168,047 $ 1,732,859 The following table presents the amortized cost in auto loans and leases based on their most recent FICO score as of December 31, 2021: Term Loans Total 2021 2020 2019 2018 2017 Prior (In thousands) Auto and leasing: FICO score: 1-660 161,534 90,402 80,745 65,681 38,001 23,171 459,534 661-699 134,507 68,422 48,173 33,854 16,761 10,534 312,251 700+ 245,148 180,737 184,307 133,098 63,229 38,474 844,993 No FICO 26,759 13,580 17,062 10,119 5,515 3,216 76,251 Total auto and leasing: $ 567,948 $ 353,141 $ 330,287 $ 242,752 $ 123,506 $ 75,395 $ 1,693,029

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Schedule of Gross Loan and Allowance for Credit Losses	The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 32,262 $ 15,299 $ 19,141 $ 65,363 $ 132,065 Provision for (recapture of) credit losses 5,187 (2,418) 3,963 1,831 8,563 Charge-offs (544) (3) (2,659) (7,890) (11,096) Recoveries 192 2,074 655 4,891 7,812 Balance at end of period $ 37,097 $ 14,952 $ 21,100 $ 64,195 $ 137,344 PCD: Balance at beginning of period $ 4,508 $ 19,018 $ 34 $ 312 $ 23,872 (Recapture of) provision for credit losses (3,875) (2,848) 13 (138) (6,848) Charge-offs (34) (1,134) (39) (114) (1,321) Recoveries 3,023 845 23 137 4,028 Balance at end of period $ 3,622 $ 15,881 $ 31 $ 197 $ 19,731 Total allowance for credit losses at end of period $ 40,719 $ 30,833 $ 21,131 $ 64,392 $ 157,075 Quarter Ended March 31, 2021 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 45,779 $ 19,687 $ 25,253 $ 70,296 $ 161,015 Provision for (recapture of) credit losses 1,542 (2,480) (158) 4,039 2,943 Charge-offs (68) (787) (4,469) (9,083) (14,407) Recoveries 430 615 565 5,817 7,427 Balance at end of period $ 47,683 $ 17,035 $ 21,191 $ 71,069 $ 156,978 PCD: Balance at beginning of period $ 16,405 $ 26,389 $ 57 $ 943 $ 43,794 (Recapture of) provision for credit losses (2,492) 5,994 (4) (172) 3,326 Charge-offs (43) (2,590) (22) (456) (3,111) Recoveries 436 146 21 383 986 Balance at end of period $ 14,306 $ 29,939 $ 52 $ 698 $ 44,995 Total allowance for credit losses at end of period $ 61,989 $ 46,974 $ 21,243 $ 71,767 $ 201,973

FORECLOSED REAL ESTATE (Tables)

FORECLOSED REAL ESTATE (Tables)	3 Months Ended
	Mar. 31, 2022
Other Real Estate [Abstract]
Schedule of Foreclosed Real Estate Rollforward	The following tables present the activity related to foreclosed real estate for the quarters ended March 31, 2022 and 2021: Quarter ended March 31, 2022 2021 (In thousands) Balance at beginning of period $ 15,039 $ 11,596 Additions 3,180 6,637 Sales (3,807) (2,423) Decline in value (195) (89) Other adjustments 1,080 (123) Balance at end of period $ 15,297 $ 15,598

SERVICING ASSETS (Tables)

SERVICING ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
Transfers and Servicing [Abstract]
Schedule of Changes in Serving Rights at Fair Value	The following table presents the changes in servicing rights measured using the fair value method for the quarters ended March 31, 2022 and 2021: Quarter ended March 31, 2022 2021 Fair value at beginning of period $ 48,973 $ 47,295 Servicing from mortgage securitization or asset transfers 1,119 1,420 Changes due to payments on loans (1,499) (1,507) Changes in fair value due to changes in valuation model inputs or assumptions 853 703 Fair value at end of period $ 49,446 $ 47,911
Schedule of Key Economic Assumptions	The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 2021 Constant prepayment rate 3.88% - 24.30% 4.50% - 40.50% Discount rate 10.00% - 15.50% 10.00% - 15.50%
Schedule of Sensitivity of Current Fair Value of Servicing Assets	The sensitivity of the current fair value of servicing assets to immediate 10 percent and 20 percent adverse changes in the above key assumptions were as follows: March 31, 2022 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 49,446 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (924) Decrease in fair value due to 20% adverse change $ (1,819) Discount rate Decrease in fair value due to 10% adverse change $ (2,276) Decrease in fair value due to 20% adverse change $ (4,373)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Core Deposit, Customer Relationship and Other Intangibles	The following table reflects the components of other intangible assets subject to amortization at March 31, 2022 and 2021: Gross Accumulated Net (In thousands) March 31, 2022 Core deposit intangibles $ 51,402 $ 25,410 $ 25,992 Customer relationship intangibles 17,753 9,869 7,884 Other intangibles 567 496 71 Total other intangible assets $ 69,722 $ 35,775 $ 33,947 December 31, 2021 Core deposit intangibles $ 51,402 $ 23,772 $ 27,630 Customer relationship intangibles 17,753 9,385 8,368 Other intangibles 567 472 95 Total other intangible assets $ 69,722 $ 33,629 $ 36,093
Schedule of Estimated Amortization of Other Intangible Assets	The following table presents the estimated amortization of other intangible assets for each of the following periods. Year Ending December 31, (In thousands) 2022 $ 8,501 2023 6,898 2024 5,913 2025 4,927 2026 3,942 Thereafter 5,912

ACCRUED INTEREST RECEIVABLE A_2

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued Interest Receivable and Other Assets [Abstract]
Schedule of Accrued interest receivable	Accrued interest receivable at March 31, 2022 and December 31, 2021 consists of the following: March 31, December 31, 2022 2021 (In thousands) Loans $ 53,427 $ 54,794 Investments 2,670 1,766 $ 56,097 $ 56,560
Schedule of Other Assets	Other assets at March 31, 2022 and December 31, 2021 consist of the following: March 31, December 31, 2022 2021 (In thousands) Prepaid expenses $ 56,931 $ 61,061 Other repossessed assets 2,625 1,945 Investment in Statutory Trust — 1,083 Accounts receivable and other assets 82,686 88,756 $ 142,242 $ 152,845

DEPOSITS AND RELATED INTEREST (

DEPOSITS AND RELATED INTEREST (Tables)	3 Months Ended
	Mar. 31, 2022
Deposits and Related Interest [Abstract]
Schedule of Deposits by Component	Total deposits, including related accrued interest payable, as of March 31, 2022 and December 31, 2021 consist of the following: March 31, December 31, 2022 2021 (In thousands) Non-interest bearing demand deposits $ 2,667,508 $ 2,501,644 Interest-bearing savings and demand deposits 5,132,245 4,880,476 Retail certificates of deposit 966,567 1,007,577 Institutional certificates of deposit 200,536 202,050 Total core deposits 8,966,856 8,591,747 Brokered deposits 11,366 11,371 Total deposits $ 8,978,222 $ 8,603,118
Schedule of Interest Expense	Interest expense for the quarters ended March 31, 2022 and 2021 was as follows: Quarter Ended March 31, 2022 2021 Demand and savings deposits $ 4,976 $ 6,371 Certificates of deposit 2,065 5,653 $ 7,041 $ 12,024
Schedule of Maturities of Time Deposits	Excluding accrued interest of approximately $578 thousand and $736 thousand, the scheduled maturities of certificates of deposit at March 31, 2022 and December 31, 2021 are as follows: March 31, 2022 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 245,840 $ 19,710 Over 3 months through 6 months 149,348 28,222 Over 6 months through 1 year 257,661 47,713 652,849 95,645 Over 1 through 2 years 278,011 40,392 Over 2 through 3 years 118,924 18,440 Over 3 through 4 years 75,209 24,046 Over 4 through 5 years 51,546 5,805 Over 5 years 1,352 — $ 1,177,891 $ 184,328 December 31, 2021 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 252,513 25,003 Over 3 months through 6 months 147,400 12,113 Over 6 months through 1 year 239,830 45,280 639,743 82,396 Over 1 through 2 years 328,177 60,108 Over 2 through 3 years 114,403 18,578 Over 3 through 4 years 77,604 22,536 Over 4 through 5 years 58,918 8505 Over 5 years 1,417 — $ 1,220,262 $ 192,123

BORROWINGS AND RELATED INTERE_2

BORROWINGS AND RELATED INTEREST (Tables)	3 Months Ended
	Mar. 31, 2022
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 $13 thousand and $8 thousand at March 31, 2022 and December 31, 2021, respectively: March 31, December 31, 2022 2021 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 0.33% (December 31, 2021 - 0.35%) $ 28,022 $ 28,480 Advances from FHLB mature as follows: March 31, December 31, 2022 2021 (In thousands) Under 90 days $ 28,022 $ 28,480

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Capital Disclosure [Abstract]
Schedule of Compliance with Regulatory Capital Requirements Under Banking Regulations	OFG’s and the Bank’s actual capital amounts and ratios as of March 31, 2022 and December 31, 2021 are as follows: Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) OFG Bancorp Ratios As of March 31, 2022 Total capital to risk-weighted assets $ 1,045,437 14.49 % $ 757,543 10.50 % $ 721,469 10.00 % Tier 1 capital to risk-weighted assets $ 955,221 13.24 % $ 613,249 8.50 % $ 577,175 8.00 % Common equity tier 1 capital to risk-weighted assets $ 955,221 13.24 % $ 505,028 7.00 % $ 468,955 6.50 % Tier 1 capital to average total assets $ 955,221 9.54 % $ 400,333 4.00 % $ 500,416 5.00 % As of December 31, 2021 Total capital to risk-weighted assets $ 1,086,897 15.52 % $ 735,512 10.50 % $ 700,488 10.00 % Tier 1 capital to risk-weighted assets $ 999,284 14.27 % $ 595,414 8.50 % $ 560,390 8.00 % Common equity tier 1 capital to risk-weighted assets $ 964,284 13.77 % $ 490,341 7.00 % $ 455,317 6.50 % Tier 1 capital to average total assets $ 999,284 9.69 % $ 412,359 4.00 % $ 515,449 5.00 % Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of March 31, 2022 Total capital to risk-weighted assets $ 1,000,591 13.93 % $ 754,127 10.50 % $ 718,216 10.00 % Tier 1 capital to risk-weighted assets $ 910,777 12.68 % $ 610,484 8.50 % $ 574,573 8.00 % Common equity tier 1 capital to risk-weighted assets $ 910,777 12.68 % $ 502,751 7.00 % $ 466,840 6.50 % Tier 1 capital to average total assets $ 910,777 9.17 % $ 397,348 4.00 % $ 496,685 5.00 % As of December 31, 2021 Total capital to risk-weighted assets $ 995,549 14.34 % $ 728,867 10.50 % $ 694,159 10.00 % Tier 1 capital to risk-weighted assets $ 908,717 13.09 % $ 590,035 8.50 % $ 555,327 8.00 % Common equity tier 1 capital to risk-weighted assets $ 908,717 13.09 % $ 485,911 7.00 % $ 451,203 6.50 % Tier 1 capital to average total assets $ 908,717 8.87 % $ 409,855 4.00 % $ 512,319 5.00 %

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of Activity of Common Shares Held in Treasury	The activity in connection with common shares held in treasury by OFG for the quarters ended March 31, 2022 and 2021 is set forth below: Quarter Ended March 31, 2022 2021 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 10,248,882 $ 150,572 8,498,163 $ 102,949 Common shares used upon lapse of restricted stock units and options (255,893) (3,334) (192,174) (1,955) Common shares repurchased as part of the stock repurchase programs 1,219,132 33,479 — — End of period 11,212,121 $ 180,717 8,305,989 $ 100,994

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive (loss) income, net of income taxes, as of March 31, 2022 and December 31, 2021 consisted of: March 31, December 31, 2022 2021 (In thousands) Unrealized (loss) gain on securities available-for-sale which are not $ (23,460) $ 7,292 Income tax effect of unrealized loss (gain) on securities available-for-sale 2,938 (1,629) Net unrealized (loss) gain on securities available-for-sale which are not (20,522) 5,663 Unrealized loss on cash flow hedges (185) (804) Income tax effect of unrealized loss on cash flow hedges 69 301 Net unrealized loss on cash flow hedges (116) (503) Accumulated other comprehensive (loss) income, net of income taxes $ (20,638) $ 5,160 The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 5,663 $ (503) $ 5,160 Other comprehensive (loss) income before reclassifications (26,187) 194 (25,993) Amounts reclassified out of accumulated other comprehensive income 2 193 195 Other comprehensive (loss) income (26,185) 387 (25,798) Ending balance $ (20,522) $ (116) $ (20,638) Quarter Ended March 31, 2021 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 12,092 $ (1,070) $ 11,022 Other comprehensive (loss) income before reclassifications (4,948) (304) (5,252) Amounts reclassified out of accumulated other comprehensive income 1 459 460 Other comprehensive (loss) income (4,947) 155 (4,792) Ending balance $ 7,145 $ (915) $ 6,230
Schedule of Reclassifications Out of Other Comprehensive Income	The following table presents reclassifications out of accumulated other comprehensive (loss) income for the quarters ended March 31, 2022 and 2021: Amount reclassified out of accumulated other comprehensive income Quarter Ended March 31, Affected Line Item in 2022 2021 (In thousands) Cash flow hedges: Interest-rate contracts $ 193 $ 459 Net interest expense Available-for-sale securities: Tax effect from changes in tax rates 2 1 Income tax expense $ 195 $ 460

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The calculation of earnings per common share for the quarters ended March 31, 2022 and 2021 is as follows: Quarter Ended March 31, 2022 2021 (In thousands, except per share data) Net income $ 37,521 $ 30,373 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) — (1,255) Income available to common shareholders $ 37,521 $ 29,118 Average common shares outstanding 48,968 51,397 Effect of dilutive securities: Average potential common shares-options 516 355 Total weighted average common shares outstanding and equivalents 49,484 51,752 Earnings per common share - basic $ 0.77 $ 0.57 Earnings per common share - diluted $ 0.76 $ 0.56

GUARANTEES (Tables)

GUARANTEES (Tables)	3 Months Ended
	Mar. 31, 2022
Guarantees [Abstract]
Schedule of Changes in Liability of Estimated Loss from Credit Recourse Agreement	The following table shows the changes in OFG’s liability for estimated losses from these credit recourse agreements, included in the consolidated statements of financial condition during the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 2021 (In thousands) Balance at beginning of period $ 294 $ 218 Net recoveries (charge-offs/terminations) (100) (23) Balance at end of period $ 194 $ 195

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Credit-Related Financial Instruments	Credit-related financial instruments at March 31, 2022 and December 31, 2021 were as follows: March 31, December 31, 2022 2021 (In thousands) Commitments to extend credit $ 1,349,603 $ 1,365,273 Commercial letters of credit 26,068 48,196 The summary of instruments that are considered financial guarantees in accordance with the authoritative guidance related to guarantor’s accounting and disclosure requirements for guarantees, including indirect guarantees of indebtedness of others, at March 31, 2022 and December 31, 2021, is as follows: March 31, December 31, 2022 2021 (In thousands) Standby letters of credit and financial guarantees $ 29,395 $ 25,203 Loans sold with recourse 118,742 121,778

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	3 Months Ended
	Mar. 31, 2022
Lessee Disclosure [Abstract]
Schedule of Operating Lease Cost	Quarter Ended March 31, 2022 2021 Statement of Operations (In thousands) Lease costs $ 2,555 $ 3,373 Occupancy and equipment Variable lease costs 547 493 Occupancy and equipment Short-term lease cost 255 20 Occupancy and equipment Lease income (77) (120) Occupancy and equipment Total lease cost $ 3,280 $ 3,766
Schedule of Operating Lease Assets and Liabilities	March 31, December 31, 2022 2021 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 28,576 $ 28,846 Operating lease right-of-use assets Lease Liabilities $ 30,287 $ 30,498 Operating leases liabilities
Schedule of Operating Lease, Other Information	March 31, 2022 (In thousands) Weighted-average remaining lease term 5.5 years Weighted-average discount rate 6.6 %
Schedule of Future Minimum Payments for Operating Leases and Present Value	Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2022 were as follows: Minimum Rent As of March 31, 2022 (In thousands) 2022 $ 6,898 2023 8,310 2024 6,153 2025 4,556 2026 3,001 Thereafter 7,656 Total lease payments $ 36,574 Less imputed interest 6,288 Present value of lease liabilities $ 30,287

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities on Recurring and Non-Recurring Basis	Assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized below: March 31, 2022 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 10,763 $ 868,021 $ 1,554 $ 880,338 Trading securities — 18 — 18 Money market investments 5,648 — — 5,648 Derivative assets — 6 — 6 Servicing assets — — 49,446 49,446 Derivative liabilities — (191) — (191) $ 16,411 $ 867,854 $ 51,000 $ 935,265 Non-recurring fair value measurements: Collateral dependent loans — — 21,279 21,279 Foreclosed real estate — — 15,297 15,297 Other repossessed assets — — 2,625 2,625 $ — $ — $ 39,201 $ 39,201 December 31, 2021 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 10,825 $ 498,358 $ 1,530 $ 510,713 Trading securities — 20 — 20 Money market investments 8,952 — — 8,952 Derivative assets — 1 — 1 Servicing assets — — 48,973 48,973 Derivative liabilities — (804) — (804) $ 19,777 $ 497,575 $ 50,503 $ 567,855 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 10,233 $ 10,233 Foreclosed real estate — — 15,039 15,039 Other repossessed assets — — 1,945 1,945 $ — $ — $ 27,217 $ 27,217
Schedule of Reconciliation of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)	The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters ended March 31, 2022 and 2021: Level 3 Instruments Only Quarter Ended March 31, 2022 2021 Other debt securities available for sale Servicing Assets Total Servicing Assets (In thousands) Balance at beginning period $ 1,530 $ 48,973 $ 50,503 $ 47,295 New instruments acquired — 1,119 1,119 1,420 Principal repayments and amortization — (1,499) (1,499) (1,507) Gains included in earnings — 853 853 703 Gains included in other comprehensive income 24 — 24 — Balance at end of period $ 1,554 $ 49,446 $ 51,000 $ 47,911
Schedule of Qualitative Information for Assets and Liabilities	The table below presents quantitative information for all assets and liabilities measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at March 31, 2022: March 31, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Other debt securities available-for-sale $ 1,554 Cash flow valuation Credit Rating Baa1 - Baa3 Baa2 Probability of Default Rate 0.16% - 2.28% 0.33 % Recovery Rate 34.73 % 34.73 % Servicing assets $ 49,446 Cash flow valuation Constant prepayment rate 3.88% - 24.30% 5.97 % Discount rate 10.00% - 15.50% 11.46 % Collateral dependent loans $ 21,279 Fair value of property Appraised value less disposition costs 10.20% - 30.20% 17.20 % Foreclosed real estate $ 15,297 Fair value of property Appraised value less disposition costs 10.20% - 30.20% 11.79 % Other repossessed assets $ 2,625 Fair value of property Estimated net realizable value less disposition costs 26.00% - 82.00% 56.16 %
Schedule of Estimated Fair Value and Carrying Value	The estimated fair value and carrying value of OFG’s financial instruments at March 31, 2022 and 2021 is as follows: March 31, December 31, 2022 2021 Fair Carrying Fair Carrying (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 1,855,554 $ 1,855,554 $ 2,023,475 $ 2,023,475 Restricted cash $ 175 $ 175 $ 175 $ 175 Investment securities available-for-sale $ 10,763 $ 10,763 $ 10,825 $ 10,825 Level 2 Financial Assets: Trading securities $ 18 $ 18 $ 20 $ 20 Investment securities available-for-sale $ 868,021 $ 868,021 $ 498,358 $ 498,358 Investment securities held-to-maturity $ 329,969 $ 359,806 $ 363,653 $ 367,507 Federal Home Loan Bank (FHLB) stock $ 5,946 $ 5,946 $ 5,966 $ 5,966 Equity securities $ 12,610 $ 12,610 $ 11,612 $ 11,612 Derivative assets $ 6 $ 6 $ 1 $ 1 Financial Liabilities: Derivative liabilities $ 191 $ 191 $ 804 $ 804 Level 3 Financial Assets: Investment securities available for sale $ 1,554 $ 1,554 $ 1,530 $ 1,530 Total loans (including loans held-for-sale) $ 6,360,479 $ 6,449,130 $ 6,197,347 $ 6,329,311 Accrued interest receivable $ 56,097 $ 56,097 $ 56,560 $ 56,560 Servicing assets $ 49,446 $ 49,446 $ 48,973 $ 48,973 Accounts receivable and other assets $ 82,686 $ 82,686 $ 88,756 $ 88,756 Financial Liabilities: Deposits $ 8,987,296 $ 8,978,222 $ 8,614,073 $ 8,603,118 Advances from FHLB $ 28,022 $ 28,035 $ 28,480 $ 28,488 Subordinated capital notes $ — $ — $ 36,084 $ 36,083 Accrued expenses and other liabilities $ 83,492 $ 83,492 $ 96,240 $ 96,240

BANKING AND FINANCIAL SERVICE_2

BANKING AND FINANCIAL SERVICE REVENUES (Tables)	3 Months Ended
	Mar. 31, 2022
Banking and Thrift, Interest [Abstract]
Schedule of Commissions and Fees Revenues	The following table presents the major categories of banking and financial service revenues for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 2021 (In thousands) Banking service revenues: Checking accounts fees $ 2,145 $ 1,962 Savings accounts fees 279 252 Electronic banking fees 13,094 12,883 Credit life commissions 304 117 Branch service commissions 360 361 Servicing and other loan fees 1,137 765 International fees 239 151 Miscellaneous income 4 6 Total banking service revenues 17,562 16,497 Wealth management revenue: Insurance income 3,034 2,231 Broker fees 1,889 2,124 Trust fees 2,741 2,781 Retirement plan and administration fees 193 252 Total wealth management revenue 7,857 7,388 Mortgage banking activities: Net servicing fees 4,363 4,351 Net gains on sale of mortgage loans and valuation 1,315 2,492 Other 104 (1,270) Total mortgage banking activities 5,782 5,573 Total banking and financial service revenues $ 31,201 $ 29,458

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Following are the results of operations and the selected financial information by operating segment for the quarters ended March 31, 2022 and 2021: Quarter Ended March 31, 2022 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 108,483 $ 5 $ 4,461 $ 112,949 $ — $ 112,949 Interest expense (7,532) — (223) (7,755) — (7,755) Net interest income 100,951 5 4,238 105,194 — 105,194 Provision (recapture of) for credit losses 1,710 — (159) 1,551 — 1,551 Non-interest income 23,550 8,006 50 31,606 — 31,606 Non-interest expenses (75,916) (4,585) (654) (81,155) — (81,155) Intersegment revenue 489 — — 489 (489) — Intersegment expenses — (343) (146) (489) 489 — Income before income taxes 47,364 3,083 3,647 54,094 — 54,094 Income tax expense 16,564 — 9 16,573 — 16,573 Net income $ 30,800 $ 3,083 $ 3,638 $ 37,521 $ — $ 37,521 Total assets $ 8,176,217 $ 24,695 $ 3,036,638 $ 11,237,550 $ (1,047,430) $ 10,190,120 Quarter Ended March 31, 2021 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 108,230 $ 12 $ 2,734 $ 110,976 $ — $ 110,976 Interest expense (12,136) — (642) (12,778) — (12,778) Net interest income 96,094 12 2,092 98,198 — 98,198 Provision (recapture of) for credit losses 6,588 — (264) 6,324 — 6,324 Non-interest income 22,873 7,531 9 30,413 — 30,413 Non-interest expenses (73,874) (2,829) (963) (77,666) — (77,666) Intersegment revenue 553 — — 553 (553) — Intersegment expenses — (291) (262) (553) 553 — Income before income taxes 39,058 4,423 1,140 44,621 — 44,621 Income tax expense 14,236 — 12 14,248 — 14,248 Net income $ 24,822 $ 4,423 $ 1,128 $ 30,373 $ — $ 30,373 Total assets $ 8,312,367 $ 28,505 $ 2,849,709 $ 11,190,581 $ (1,037,239) $ 10,153,342

RESTRICTED CASH (Narrative) (De

RESTRICTED CASH (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 175	$ 175	$ 1,050
Reserve required by local government	481,300	456,500
Securities Sold under Agreements to Repurchase
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 175	$ 175

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Money market investments	$ 5,648	$ 8,952	$ 11,401
Restricted cash	175	175	$ 1,050
Securitized GNMA pools retained, amortized cost	$ 24,000	$ 30,000
Securitized GNMA pool retained, yield	2.37%	2.22%
12 months or more	$ 85,355	$ 0
Held to maturity securities in continuous loss position for 12 months or more		0
Asset Pledged as Collateral
Debt Securities, Available-for-sale [Line Items]
Pledged assets	200,400	145,600
OIB
Debt Securities, Available-for-sale [Line Items]
Restricted cash	305	305
Oriental Overseas
Debt Securities, Available-for-sale [Line Items]
Restricted cash	325	325
Public Funds | Asset Pledged as Collateral
Debt Securities, Available-for-sale [Line Items]
Pledged assets	$ 199,700	$ 143,800

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - AFS) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Amortized Cost	$ 903,798	$ 503,421
Gross Unrealized Gains	964	10,692
Gross Unrealized Losses	24,424	3,400
Fair Value	$ 880,338	$ 510,713
Weighted Average Yield	2.24%	2.05%
Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 890,740	$ 489,155
Gross Unrealized Gains	875	10,555
Gross Unrealized Losses	24,424	3,400
Fair Value	$ 867,191	$ 496,310
Weighted Average Yield	2.24%	2.05%
Mortgage-backed securities | FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 574,290	$ 184,000
Gross Unrealized Gains	2	2,502
Gross Unrealized Losses	15,402	3,200
Fair Value	$ 558,890	$ 183,302
Weighted Average Yield	2.21%	1.65%
Mortgage-backed securities | FNMA and FHLMC certificates | Due from 1 to 5 years
Schedule of Investments [Line Items]
Amortized Cost	$ 2,020
Gross Unrealized Gains	0
Gross Unrealized Losses	5
Fair Value	$ 2,015
Weighted Average Yield	2.13%
Mortgage-backed securities | FNMA and FHLMC certificates | Due from 5 to 10 years
Schedule of Investments [Line Items]
Amortized Cost	$ 82,101	$ 90,560
Gross Unrealized Gains	2	2,502
Gross Unrealized Losses	1,168	0
Fair Value	$ 80,935	$ 93,062
Weighted Average Yield	1.94%	1.94%
Mortgage-backed securities | FNMA and FHLMC certificates | Due after 10 years
Schedule of Investments [Line Items]
Amortized Cost	$ 490,169	$ 93,440
Gross Unrealized Gains	0	0
Gross Unrealized Losses	14,229	3,200
Fair Value	$ 475,940	$ 90,240
Weighted Average Yield	2.25%	1.37%
Mortgage-backed securities | GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 295,018	$ 281,061
Gross Unrealized Gains	872	7,716
Gross Unrealized Losses	8,694	199
Fair Value	$ 287,196	$ 288,578
Weighted Average Yield	2.32%	2.32%
Mortgage-backed securities | GNMA Securities | Due from 1 to 5 years
Schedule of Investments [Line Items]
Amortized Cost	$ 16,836	$ 10,536
Gross Unrealized Gains	0	233
Gross Unrealized Losses	146	1
Fair Value	$ 16,690	$ 10,768
Weighted Average Yield	1.63%	1.66%
Mortgage-backed securities | GNMA Securities | Due from 5 to 10 years
Schedule of Investments [Line Items]
Amortized Cost	$ 16,470	$ 26,419
Gross Unrealized Gains	0	556
Gross Unrealized Losses	327	0
Fair Value	$ 16,143	$ 26,975
Weighted Average Yield	1.88%	1.80%
Mortgage-backed securities | GNMA Securities | Due after 10 years
Schedule of Investments [Line Items]
Amortized Cost	$ 261,712	$ 244,106
Gross Unrealized Gains	872	6,927
Gross Unrealized Losses	8,221	198
Fair Value	$ 254,363	$ 250,835
Weighted Average Yield	2.40%	2.40%
Mortgage-backed securities | CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 21,432	$ 24,094
Gross Unrealized Gains	1	337
Gross Unrealized Losses	328	1
Fair Value	$ 21,105	$ 24,430
Weighted Average Yield	1.96%	1.96%
Mortgage-backed securities | CMOs issued by US government-sponsored agencies | Due from 1 to 5 years
Schedule of Investments [Line Items]
Amortized Cost	$ 1,523	$ 1,788
Gross Unrealized Gains	0	22
Gross Unrealized Losses	24	0
Fair Value	$ 1,499	$ 1,810
Weighted Average Yield	1.70%	1.70%
Mortgage-backed securities | CMOs issued by US government-sponsored agencies | Due from 5 to 10 years
Schedule of Investments [Line Items]
Amortized Cost	$ 18,584	$ 20,705
Gross Unrealized Gains	0	299
Gross Unrealized Losses	300	0
Fair Value	$ 18,284	$ 21,004
Weighted Average Yield	1.80%	1.81%
Mortgage-backed securities | CMOs issued by US government-sponsored agencies | Due after 10 years
Schedule of Investments [Line Items]
Amortized Cost	$ 1,325	$ 1,601
Gross Unrealized Gains	1	16
Gross Unrealized Losses	4	1
Fair Value	$ 1,322	$ 1,616
Weighted Average Yield	4.53%	4.24%
Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 13,058	$ 14,266
Gross Unrealized Gains	89	137
Gross Unrealized Losses	0	0
Fair Value	$ 13,147	$ 14,403
Weighted Average Yield	2.01%	1.95%
Investment securities | US Treasury securities
Schedule of Investments [Line Items]
Amortized Cost	$ 10,735	$ 10,737
Gross Unrealized Gains	28	88
Gross Unrealized Losses	0	0
Fair Value	$ 10,763	$ 10,825
Weighted Average Yield	1.49%	1.48%
Investment securities | US Treasury securities | Due less than 1 year
Schedule of Investments [Line Items]
Amortized Cost	$ 10,735	$ 10,737
Gross Unrealized Gains	28	88
Gross Unrealized Losses	0	0
Fair Value	$ 10,763	$ 10,825
Weighted Average Yield	1.49%	1.48%
Investment securities | Obligations of US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost		$ 1,182
Gross Unrealized Gains		1
Gross Unrealized Losses		0
Fair Value		$ 1,183
Weighted Average Yield		1.40%
Investment securities | Obligations of US government-sponsored agencies | Due less than 1 year
Schedule of Investments [Line Items]
Amortized Cost		$ 1,182
Gross Unrealized Gains		1
Gross Unrealized Losses		0
Fair Value		$ 1,183
Weighted Average Yield		1.40%
Investment securities | Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 2,323	$ 2,347
Gross Unrealized Gains	61	48
Gross Unrealized Losses	0	0
Fair Value	$ 2,384	$ 2,395
Weighted Average Yield	4.41%	4.39%
Investment securities | Other debt securities | Due less than 1 year
Schedule of Investments [Line Items]
Amortized Cost	$ 500	$ 500
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 500	$ 500
Weighted Average Yield	0.57%	0.57%
Investment securities | Other debt securities | Due from 1 to 5 years
Schedule of Investments [Line Items]
Amortized Cost	$ 1,823	$ 1,847
Gross Unrealized Gains	61	48
Gross Unrealized Losses	0	0
Fair Value	$ 1,884	$ 1,895
Weighted Average Yield	5.46%	5.43%

INVESTMENT SECURITIES (Invest_2

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - HTM) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 359,806	$ 367,507
Fair Value	329,969	363,653
Due after 10 years | Mortgage-backed securities | FNMA and FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	359,806	367,507
Gross Unrealized Gains	0	0
Gross Unrealized Losses	29,837	3,854
Fair Value	$ 329,969	$ 363,653
Weighted Average Yield	1.71%	1.71%

INVESTMENT SECURITIES (Unrealiz

INVESTMENT SECURITIES (Unrealized Gains and Losses by Category) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Securities Available-for-Sale, Amortized Cost
12 months or more	$ 95,495
Less than 12 months	775,763	$ 98,962
Total	871,258
Securities Available-for-Sale, Unrealized Loss
12 months or more	10,140
Less than 12 months	14,284	3,400
Total	24,424
Securities Available-for-Sale, Fair Value
12 months or more	85,355	0
Less than 12 months	761,479	95,562
Total	846,834
CMOs issued by US Government-sponsored agencies
Securities Available-for-Sale, Amortized Cost
Less than 12 months	20,744	500
Total	20,744
Securities Available-for-Sale, Unrealized Loss
Less than 12 months	328	1
Total	328
Securities Available-for-Sale, Fair Value
Less than 12 months	20,416	499
Total	20,416
FNMA and FHLMC certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	91,258
Less than 12 months	481,614	93,440
Total	572,872
Held-to-Maturity, Amortized Cost
Less than 12 months	359,806	367,507
Total	359,806
Securities Available-for-Sale, Unrealized Loss
12 months or more	9,884
Less than 12 months	5,518	3,200
Total	15,402
Held-to-Maturity, Unrealized Loss
Less than 12 months	29,837	3,854
Total	29,837
Securities Available-for-Sale, Fair Value
12 months or more	81,374
Less than 12 months	476,096	90,240
Total	557,470
Held-to-Maturity, Fair Value
Fair Value	329,969	363,653
Total	329,969
GNMA Securities
Securities Available-for-Sale, Amortized Cost
12 months or more	4,237
Less than 12 months	273,405	5,022
Total	277,642
Securities Available-for-Sale, Unrealized Loss
12 months or more	256
Less than 12 months	8,438	199
Total	8,694
Securities Available-for-Sale, Fair Value
12 months or more	3,981
Less than 12 months	264,967	$ 4,823
Total	$ 268,948

LOANS (Composition of Loan Port

LOANS (Composition of Loan Portfolio) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	$ 6,547,971	$ 6,402,586
Allowance for credit losses	(157,075)	(155,937)	$ (201,973)
Total loans held for investment, net	6,390,896	6,246,649
Total loans held for sale	58,234	82,662
Total loans	6,449,130	6,329,311
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	2,499,914	2,379,330
Allowance for credit losses	(40,719)		(61,989)
Total loans held for sale	31,473	31,566
Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,848,641	1,907,271
Allowance for credit losses	(30,833)		(46,974)
Total loans held for sale	26,761	51,096
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	455,792	409,675
Allowance for credit losses	(21,131)		(21,243)
Auto and leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,743,624	1,706,310
Allowance for credit losses	(64,392)		(71,767)
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	5,201,383	4,995,631
Allowance for credit losses	(137,344)	(132,065)	(156,978)	$ (161,015)
Total loans held for investment, net	5,064,039	4,863,566
Total loans held for sale	58,234	82,662
Total loans	5,122,273	4,946,228
Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	2,309,288	2,174,995
Allowance for credit losses	(37,097)	(32,262)	(47,683)	(45,779)
Total loans held for sale	31,473	31,566
Non-PCD | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	704,277	718,848
Allowance for credit losses	(14,952)	(15,299)	(17,035)	(19,687)
Total loans held for sale	26,761	51,096
Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	454,959	408,759
Allowance for credit losses	(21,100)	(19,141)	(21,191)	(25,253)
Non-PCD | Auto and leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,732,859	1,693,029
Allowance for credit losses	(64,195)	(65,363)	(71,069)	(70,296)
PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,346,588	1,406,955
Allowance for credit losses	(19,731)	(23,872)	(44,995)	(43,794)
Total loans held for investment, net	1,326,857	1,383,083
Total loans held for sale	0	0
Total loans	1,326,857	1,383,083
PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	190,626	204,335
Allowance for credit losses	(3,622)	(4,508)	(14,306)	(16,405)
Total loans held for sale	0	0
PCD | Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,144,364	1,188,423
Allowance for credit losses	(15,881)	(19,018)	(29,939)	(26,389)
Total loans held for sale	0	0
PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	833	916
Allowance for credit losses	(31)	(34)	(52)	(57)
PCD | Auto and leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	10,765	13,281
Allowance for credit losses	(197)	(312)	$ (698)	$ (943)
Commercial secured by real estate | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,089,509	1,060,180
Commercial secured by real estate | Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	925,644	883,994
Commercial secured by real estate | PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	163,865	176,186
Other commercial and industrial | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	832,260	787,321
Other commercial and industrial | Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	805,499	759,172
Other commercial and industrial | PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	26,761	28,149
Other commercial and industrial - Paycheck Protection Program (PPP Loans) | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	53,277	86,889
Other commercial and industrial - Paycheck Protection Program (PPP Loans) | Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	53,277	86,889
Other commercial and industrial - Paycheck Protection Program (PPP Loans) | PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	0	0
US commercial loans | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	524,868	444,940
US commercial loans | Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	524,868	444,940
US commercial loans | PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	0	0
Personal loans | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	396,134	347,405
Personal loans | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	395,656	346,859
Personal loans | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	478	546
Credit lines | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	14,275	15,145
Credit lines | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	13,920	14,775
Credit lines | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	355	370
Credit cards | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	45,145	46,795
Credit cards | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	45,145	46,795
Credit cards | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	0	0
Overdraft | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	238	330
Overdraft | Non-PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	238	330
Overdraft | PCD | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	$ 0	$ 0

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,547,971	$ 6,402,586
Loans classified as troubled-debt restructuring not included in non-accrual loans	147,847	150,426
Commitment to lend additional funds	3,400	3,700
Loan deferral amount, pandemic related	10,700	28,000
Recorded investment of residential mortgage loans collateralized and in process of foreclosure	14,900	16,900
Balance of revolving loans converted to term loans, amount	57,700	37,500
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	5,201,383	4,995,631
Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as troubled-debt restructuring not included in non-accrual loans	123,427	125,887
Mortgage Loans - GNMA Buy-Back Option Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans	9,700	14,500
Past due | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	165,026	185,137
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,499,914	2,379,330
Loans classified as troubled-debt restructuring not included in non-accrual loans	31,227	35,839
Commercial loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,309,288	2,174,995
Commercial loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as troubled-debt restructuring not included in non-accrual loans	16,450	20,922
Commercial loans | Puerto Rico | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	86,100	87,300
Commercial loans | Puerto Rico | Government | Property Tax Revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	86,100	86,200
Commercial loans | Puerto Rico | Government | Public Corporation | Nonperforming
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,100
Commercial loans | Past due | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	16,060	14,128
Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,848,641	1,907,271
Loans classified as troubled-debt restructuring not included in non-accrual loans	113,534	110,962
Mortgage | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	704,277	718,848
Mortgage | Government Guaranteed Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as troubled-debt restructuring not included in non-accrual loans	44,400	40,800
Mortgage | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as troubled-debt restructuring not included in non-accrual loans	103,962	101,487
Mortgage | Past due | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	48,661	$ 60,027
Mortgage | Past due | Residential mortgage loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sales of loans held for sale	$ 21,900

LOANS (Aging of Recorded Invest

LOANS (Aging of Recorded Investment in Gross Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total Loans	$ 6,547,971	$ 6,402,586
Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,201,383	4,995,631
Loans 90+ Days Past Due and Still Accruing	2,099	2,346
30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	66,514	76,491
60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	35,846	40,351
90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	62,666	68,295
Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	165,026	185,137
Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,036,357	4,810,494
Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	2,499,914	2,379,330
Commercial | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,309,288	2,174,995
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,801	4,096
Commercial | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	799	640
Commercial | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,460	9,392
Commercial | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	16,060	14,128
Commercial | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,293,228	2,160,867
Mortgage
Financing Receivable, Past Due [Line Items]
Total Loans	1,848,641	1,907,271
Mortgage | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	704,277	718,848
Loans 90+ Days Past Due and Still Accruing	2,099	2,346
Mortgage | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,835	8,704
Mortgage | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	7,943	7,855
Mortgage | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	34,883	43,468
Mortgage | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	48,661	60,027
Mortgage | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	655,616	658,821
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	455,792	409,675
Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	454,959	408,759
Loans 90+ Days Past Due and Still Accruing	0	0
Consumer | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	4,243	3,653
Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,248	1,622
Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,959	1,974
Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	8,450	7,249
Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	446,509	401,510
Auto and leasing
Financing Receivable, Past Due [Line Items]
Total Loans	1,743,624	1,706,310
Auto and leasing | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,732,859	1,693,029
Loans 90+ Days Past Due and Still Accruing	0	0
Auto and leasing | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	54,635	60,038
Auto and leasing | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	24,856	30,234
Auto and leasing | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	12,364	13,461
Auto and leasing | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	91,855	103,733
Auto and leasing | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,641,004	1,589,296
Commercial secured by real estate | Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	1,089,509	1,060,180
Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	925,644	883,994
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial secured by real estate | Commercial | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	612	2,210
Commercial secured by real estate | Commercial | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	443	102
Commercial secured by real estate | Commercial | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	12,494	8,446
Commercial secured by real estate | Commercial | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,549	10,758
Commercial secured by real estate | Commercial | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	912,095	873,236
Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	858,776	846,061
Loans 90+ Days Past Due and Still Accruing	0	0
Other commercial and industrial | Commercial | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,189	1,886
Other commercial and industrial | Commercial | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	356	538
Other commercial and industrial | Commercial | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	966	946
Other commercial and industrial | Commercial | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,511	3,370
Other commercial and industrial | Commercial | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	856,265	842,691
US commercial loans | Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	524,868	444,940
US commercial loans | Commercial | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	524,868	444,940
Loans 90+ Days Past Due and Still Accruing	0	0
US commercial loans | Commercial | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
US commercial loans | Commercial | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
US commercial loans | Commercial | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
US commercial loans | Commercial | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
US commercial loans | Commercial | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	524,868	444,940
Personal loans | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	396,134	347,405
Personal loans | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	395,656	346,859
Loans 90+ Days Past Due and Still Accruing	0	0
Personal loans | Consumer | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	3,097	2,382
Personal loans | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,690	1,131
Personal loans | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,290	1,116
Personal loans | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,077	4,629
Personal loans | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	389,579	342,230
Credit lines | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	14,275	15,145
Credit lines | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,920	14,775
Loans 90+ Days Past Due and Still Accruing	0	0
Credit lines | Consumer | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	416	531
Credit lines | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	153	141
Credit lines | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	110	227
Credit lines | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	679	899
Credit lines | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,241	13,876
Credit cards | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	45,145	46,795
Credit cards | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	45,145	46,795
Loans 90+ Days Past Due and Still Accruing	0	0
Credit cards | Consumer | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	669	610
Credit cards | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	405	336
Credit cards | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	559	631
Credit cards | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,633	1,577
Credit cards | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	43,512	45,218
Overdraft | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	238	330
Loans 90+ Days Past Due and Still Accruing	0	0
Overdraft | Consumer | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	61	130
Overdraft | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	14
Overdraft | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Overdraft | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	61	144
Overdraft | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	$ 177	$ 186

LOANS (Investment in Loans on N

LOANS (Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	$ 57,515	$ 62,480
Non-accrual with no Allowance for Credit Loss	29,294	39,403
Total	86,809	101,883
Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	53,523	55,839
Non-accrual with no Allowance for Credit Loss	22,099	33,165
Total	75,622	89,004
PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,992	6,641
Non-accrual with no Allowance for Credit Loss	7,195	6,238
Total	11,187	12,879
Commercial | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	16,712	17,583
Non-accrual with no Allowance for Credit Loss	18,181	20,021
Total	34,893	37,604
Commercial | PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,682	6,307
Non-accrual with no Allowance for Credit Loss	7,195	6,238
Total	10,877	12,545
Mortgage | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	22,642	16,428
Non-accrual with no Allowance for Credit Loss	3,562	12,840
Total	26,204	29,268
Mortgage | PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	310	334
Non-accrual with no Allowance for Credit Loss	0	0
Total	310	334
Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,677	2,001
Non-accrual with no Allowance for Credit Loss	353	302
Total	2,030	2,303
Auto and leasing | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	12,492	19,827
Non-accrual with no Allowance for Credit Loss	3	2
Total	12,495	19,829
Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	15,703	16,299
Non-accrual with no Allowance for Credit Loss	17,864	19,538
Total	33,567	35,837
Commercial secured by real estate | Commercial | PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,682	5,205
Non-accrual with no Allowance for Credit Loss	7,155	6,198
Total	10,837	11,403
Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,009	1,284
Non-accrual with no Allowance for Credit Loss	317	483
Total	1,326	1,767
Other commercial and industrial | Commercial | PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	0	1,102
Non-accrual with no Allowance for Credit Loss	40	40
Total	40	1,142
Personal loans | Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,008	1,143
Non-accrual with no Allowance for Credit Loss	353	302
Total	1,361	1,445
Personal lines of credit | Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	110	226
Non-accrual with no Allowance for Credit Loss	0	0
Total	110	226
Credit cards | Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	559	632
Non-accrual with no Allowance for Credit Loss	0	0
Total	$ 559	$ 632

LOANS (Troubled-Debt Restructur

LOANS (Troubled-Debt Restructuring Loan Portfolio) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 147,847	$ 150,426
Related Allowance	4,147	4,406
Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	123,427	125,887
Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	24,420	24,539
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	31,227	35,839
Related Allowance	316	369
Commercial loans | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	16,450	20,922
Commercial loans | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	14,777	14,917
Commercial loans | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	20,981	25,425
Related Allowance	118	202
Commercial loans | Commercial secured by real estate | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	6,505	10,981
Commercial loans | Commercial secured by real estate | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	14,476	14,444
Commercial loans | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,103	3,258
Related Allowance	72	41
Commercial loans | Other commercial and industrial | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,802	2,785
Commercial loans | Other commercial and industrial | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	301	473
Commercial loans | US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,143	7,156
Related Allowance	126	126
Commercial loans | US commercial loans | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,143	7,156
Commercial loans | US commercial loans | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0	0
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	113,534	110,962
Related Allowance	3,685	3,867
Mortgage | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	103,962	101,487
Mortgage | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	9,572	9,475
Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,945	3,414
Related Allowance	141	159
Consumer | Personal loans | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,874	3,275
Consumer | Personal loans | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	71	139
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	141	211
Related Allowance	5	11
Auto and leasing | Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	141	203
Auto and leasing | Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 0	$ 8

LOANS (Troubled-Debt Restruct_2

LOANS (Troubled-Debt Restructurings By Loan Portfolio And Modification Type) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 147,847	$ 150,426
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	31,227	35,839
Commercial | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	20,981	25,425
Commercial | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,103	3,258
Commercial | US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,143	7,156
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	113,534	110,962
Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,945	3,414
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	141	211
Reduction in interest rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	55,257	55,217
Reduction in interest rate | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	16,121	16,340
Reduction in interest rate | Commercial | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,265	8,461
Reduction in interest rate | Commercial | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	713	723
Reduction in interest rate | Commercial | US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,143	7,156
Reduction in interest rate | Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	37,810	37,307
Reduction in interest rate | Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,280	1,496
Reduction in interest rate | Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	46	74
Maturity or term extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	10,206	10,295
Maturity or term extension | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,023	3,212
Maturity or term extension | Commercial | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,160	1,227
Maturity or term extension | Commercial | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,863	1,985
Maturity or term extension | Commercial | US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0	0
Maturity or term extension | Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	6,918	6,796
Maturity or term extension | Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	265	287
Maturity or term extension | Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0	0
Combination of reduction in interest rate and extension of maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	44,791	46,837
Combination of reduction in interest rate and extension of maturity | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,789	12,923
Combination of reduction in interest rate and extension of maturity | Commercial | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,287	12,401
Combination of reduction in interest rate and extension of maturity | Commercial | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	502	522
Combination of reduction in interest rate and extension of maturity | Commercial | US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0	0
Combination of reduction in interest rate and extension of maturity | Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	34,739	32,456
Combination of reduction in interest rate and extension of maturity | Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,237	1,430
Combination of reduction in interest rate and extension of maturity | Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	26	28
Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	37,593	38,077
Forbearance | Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,294	3,364
Forbearance | Commercial | Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,269	3,336
Forbearance | Commercial | Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	25	28
Forbearance | Commercial | US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	0	0
Forbearance | Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	34,067	34,403
Forbearance | Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	163	201
Forbearance | Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 69	$ 109

LOANS (TDR Pre_Post Modificatio

LOANS (TDR Pre/Post Modifications) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)contract	Mar. 31, 2021USD ($)contract
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	36	26
Pre-Modification Outstanding Recorded Investment	$ 4,700	$ 3,557
Pre-Modification Weighted Average Rate	4.53%	3.99%
Pre-Modification Weighted Average Term (in Months)	274 months	300 months
Post-Modification Outstanding Recorded Investment	$ 4,863	$ 3,580
Post-Modification Weighted Average Rate	3.47%	3.61%
Post-Modification Weighted Average Term (in Months)	343 months	333 months
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	2	2
Pre-Modification Outstanding Recorded Investment	$ 895	$ 185
Pre-Modification Weighted Average Rate	5.60%	7.21%
Pre-Modification Weighted Average Term (in Months)	52 months	58 months
Post-Modification Outstanding Recorded Investment	$ 752	$ 204
Post-Modification Weighted Average Rate	4.37%	6.80%
Post-Modification Weighted Average Term (in Months)	75 months	58 months
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract	1	2
Pre-Modification Outstanding Recorded Investment	$ 13	$ 16
Pre-Modification Weighted Average Rate	18.20%	11.76%
Pre-Modification Weighted Average Term (in Months)	84 months	54 months
Post-Modification Outstanding Recorded Investment	$ 13	$ 17
Post-Modification Weighted Average Rate	10.95%	9.93%
Post-Modification Weighted Average Term (in Months)	84 months	63 months
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts | contract		5
Pre-Modification Outstanding Recorded Investment		$ 82
Pre-Modification Weighted Average Rate		6.81%
Pre-Modification Weighted Average Term (in Months)		66 months
Post-Modification Outstanding Recorded Investment		$ 82
Post-Modification Weighted Average Rate		9.81%
Post-Modification Weighted Average Term (in Months)		36 months

LOANS (Troubled Debt Restructur

LOANS (Troubled Debt Restructurings, Rolling Twelve Months) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)contract	Mar. 31, 2021USD ($)contract
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	16	13
Recorded Investment | $	$ 1,888	$ 1,507
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	5	0
Recorded Investment | $	$ 71	$ 0
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	1	10
Recorded Investment | $	$ 10	$ 57

LOANS (Aging of the Amortized C

LOANS (Aging of the Amortized Cost of Collateral-Dependent Loans Held For Investment) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Commercial loans | Commercial secured by real estate | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortized cost of collateral-dependent loans held for investment	$ 21,279	$ 10,233

LOANS (Credit Quality Indicator

LOANS (Credit Quality Indicators of Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 6,547,971	$ 6,402,586
Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total	5,201,383	4,995,631
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,499,914	2,379,330
Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	166,224	554,638
Term loans amortized by cost basis, in one year prior to current fiscal year	519,572	294,311
Term loans amortized by cost basis, in two years prior to current fiscal year	293,252	244,490
Term loans amortized by cost basis, in three years prior to current fiscal year	227,104	236,815
Term loans amortized by cost basis, in four years prior to current fiscal year	220,907	67,561
Prior	257,232	211,737
Revolving Loans Amortized Cost Basis	624,997	565,443
Total	2,309,288	2,174,995
Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,848,641	1,907,271
Mortgage | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total	704,277	718,848
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	455,792	409,675
Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	94,241	175,569
Term loans amortized by cost basis, in one year prior to current fiscal year	159,741	56,199
Term loans amortized by cost basis, in two years prior to current fiscal year	47,584	65,836
Term loans amortized by cost basis, in three years prior to current fiscal year	55,205	29,951
Term loans amortized by cost basis, in four years prior to current fiscal year	24,310	12,307
Prior	14,575	6,997
Revolving Loans Amortized Cost Basis	59,303	61,900
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	454,959	408,759
Auto and leasing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,743,624	1,706,310
Auto and leasing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	144,462	567,948
Term loans amortized by cost basis, in one year prior to current fiscal year	571,334	353,141
Term loans amortized by cost basis, in two years prior to current fiscal year	328,353	330,287
Term loans amortized by cost basis, in three years prior to current fiscal year	302,069	242,752
Term loans amortized by cost basis, in four years prior to current fiscal year	218,594	123,506
Prior	168,047	75,395
Total	1,732,859	1,693,029
Auto and leasing | 1-660 | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	33,276	161,534
Term loans amortized by cost basis, in one year prior to current fiscal year	165,264	90,402
Term loans amortized by cost basis, in two years prior to current fiscal year	85,758	80,745
Term loans amortized by cost basis, in three years prior to current fiscal year	74,524	65,681
Term loans amortized by cost basis, in four years prior to current fiscal year	59,447	38,001
Prior	52,034	23,171
Total	470,303	459,534
Auto and leasing | 661-699 | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	33,282	134,507
Term loans amortized by cost basis, in one year prior to current fiscal year	134,368	68,422
Term loans amortized by cost basis, in two years prior to current fiscal year	59,373	48,173
Term loans amortized by cost basis, in three years prior to current fiscal year	42,517	33,854
Term loans amortized by cost basis, in four years prior to current fiscal year	29,540	16,761
Prior	23,202	10,534
Total	322,282	312,251
Auto and leasing | 700+ | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	70,521	245,148
Term loans amortized by cost basis, in one year prior to current fiscal year	248,563	180,737
Term loans amortized by cost basis, in two years prior to current fiscal year	170,553	184,307
Term loans amortized by cost basis, in three years prior to current fiscal year	169,596	133,098
Term loans amortized by cost basis, in four years prior to current fiscal year	120,474	63,229
Prior	85,393	38,474
Total	865,100	844,993
Auto and leasing | No FICO | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	7,383	26,759
Term loans amortized by cost basis, in one year prior to current fiscal year	23,139	13,580
Term loans amortized by cost basis, in two years prior to current fiscal year	12,669	17,062
Term loans amortized by cost basis, in three years prior to current fiscal year	15,432	10,119
Term loans amortized by cost basis, in four years prior to current fiscal year	9,133	5,515
Prior	7,418	3,216
Total	75,174	76,251
Mortgage and consumer loans | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	101,126	194,055
Term loans amortized by cost basis, in one year prior to current fiscal year	186,634	72,910
Term loans amortized by cost basis, in two years prior to current fiscal year	64,578	81,426
Term loans amortized by cost basis, in three years prior to current fiscal year	70,301	49,722
Term loans amortized by cost basis, in four years prior to current fiscal year	43,198	39,009
Prior	634,096	628,585
Revolving Loans Amortized Cost Basis	59,303	61,900
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,159,236	1,127,607
Commercial secured by real estate | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,089,509	1,060,180
Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	85,540	192,889
Term loans amortized by cost basis, in one year prior to current fiscal year	192,366	132,177
Term loans amortized by cost basis, in two years prior to current fiscal year	138,964	146,844
Term loans amortized by cost basis, in three years prior to current fiscal year	145,467	100,294
Term loans amortized by cost basis, in four years prior to current fiscal year	83,584	57,849
Prior	241,763	205,705
Revolving Loans Amortized Cost Basis	37,960	48,236
Total	925,644	883,994
Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	47,384	276,355
Term loans amortized by cost basis, in one year prior to current fiscal year	245,737	93,880
Term loans amortized by cost basis, in two years prior to current fiscal year	86,347	54,207
Term loans amortized by cost basis, in three years prior to current fiscal year	48,491	60,596
Term loans amortized by cost basis, in four years prior to current fiscal year	62,274	9,712
Prior	15,469	6,032
Revolving Loans Amortized Cost Basis	353,074	345,279
Total	858,776	846,061
US commercial loans | Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	524,868	444,940
US commercial loans | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	33,300	85,394
Term loans amortized by cost basis, in one year prior to current fiscal year	81,469	68,254
Term loans amortized by cost basis, in two years prior to current fiscal year	67,941	43,439
Term loans amortized by cost basis, in three years prior to current fiscal year	33,146	75,925
Term loans amortized by cost basis, in four years prior to current fiscal year	75,049	0
Prior	0	0
Revolving Loans Amortized Cost Basis	233,963	171,928
Total	524,868	444,940
Mortgage loans | Mortgage | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	6,885	18,486
Term loans amortized by cost basis, in one year prior to current fiscal year	26,893	16,711
Term loans amortized by cost basis, in two years prior to current fiscal year	16,994	15,590
Term loans amortized by cost basis, in three years prior to current fiscal year	15,096	19,771
Term loans amortized by cost basis, in four years prior to current fiscal year	18,888	26,702
Prior	619,521	621,588
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	704,277	718,848
Mortgage loans | Mortgage | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	6,885	18,486
Term loans amortized by cost basis, in one year prior to current fiscal year	26,893	16,585
Term loans amortized by cost basis, in two years prior to current fiscal year	16,868	15,461
Term loans amortized by cost basis, in three years prior to current fiscal year	14,755	19,261
Term loans amortized by cost basis, in four years prior to current fiscal year	18,411	24,872
Prior	583,692	584,792
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	667,504	679,457
Mortgage loans | Mortgage | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	126
Term loans amortized by cost basis, in two years prior to current fiscal year	126	129
Term loans amortized by cost basis, in three years prior to current fiscal year	341	510
Term loans amortized by cost basis, in four years prior to current fiscal year	477	1,830
Prior	35,829	36,796
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	36,773	39,391
Personal loans | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	94,241	175,569
Term loans amortized by cost basis, in one year prior to current fiscal year	159,741	56,199
Term loans amortized by cost basis, in two years prior to current fiscal year	47,584	65,836
Term loans amortized by cost basis, in three years prior to current fiscal year	55,205	29,951
Term loans amortized by cost basis, in four years prior to current fiscal year	24,310	12,307
Prior	14,575	6,997
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	395,656	346,859
Personal loans | Consumer | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	94,228	175,273
Term loans amortized by cost basis, in one year prior to current fiscal year	159,506	55,960
Term loans amortized by cost basis, in two years prior to current fiscal year	47,338	65,425
Term loans amortized by cost basis, in three years prior to current fiscal year	54,905	29,808
Term loans amortized by cost basis, in four years prior to current fiscal year	24,182	12,287
Prior	14,136	6,661
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	394,295	345,414
Personal loans | Consumer | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	13	296
Term loans amortized by cost basis, in one year prior to current fiscal year	235	239
Term loans amortized by cost basis, in two years prior to current fiscal year	246	411
Term loans amortized by cost basis, in three years prior to current fiscal year	300	143
Term loans amortized by cost basis, in four years prior to current fiscal year	128	20
Prior	439	336
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,361	1,445
Credit lines | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	13,920	14,775
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	13,920	14,775
Credit lines | Consumer | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	13,810	14,549
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	13,810	14,549
Credit lines | Consumer | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	110	226
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	110	226
Credit cards | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	45,145	46,795
Credit cards | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	45,145	46,795
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	45,145	46,795
Credit cards | Consumer | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	44,586	46,163
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	44,586	46,163
Credit cards | Consumer | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	559	632
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	559	632
Overdrafts | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	238	330
Overdrafts | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	238	330
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	238	330
Overdrafts | Consumer | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	238	330
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	238	330
Overdrafts | Consumer | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	0	0
Pass | Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	85,540	183,820
Term loans amortized by cost basis, in one year prior to current fiscal year	183,488	120,855
Term loans amortized by cost basis, in two years prior to current fiscal year	127,605	114,208
Term loans amortized by cost basis, in three years prior to current fiscal year	112,985	94,864
Term loans amortized by cost basis, in four years prior to current fiscal year	77,970	52,439
Prior	215,510	183,026
Revolving Loans Amortized Cost Basis	32,923	45,178
Total	836,021	794,390
Pass | Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	47,372	276,165
Term loans amortized by cost basis, in one year prior to current fiscal year	245,506	93,809
Term loans amortized by cost basis, in two years prior to current fiscal year	85,959	45,976
Term loans amortized by cost basis, in three years prior to current fiscal year	40,564	57,989
Term loans amortized by cost basis, in four years prior to current fiscal year	59,694	6,106
Prior	11,917	6,004
Revolving Loans Amortized Cost Basis	344,577	330,072
Total	835,589	816,121
Pass | US commercial loans | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	33,300	85,394
Term loans amortized by cost basis, in one year prior to current fiscal year	81,469	61,098
Term loans amortized by cost basis, in two years prior to current fiscal year	60,798	41,924
Term loans amortized by cost basis, in three years prior to current fiscal year	31,619	47,179
Term loans amortized by cost basis, in four years prior to current fiscal year	46,288	0
Prior	0	0
Revolving Loans Amortized Cost Basis	233,963	171,928
Total	487,437	407,523
Special Mention | Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	654
Term loans amortized by cost basis, in one year prior to current fiscal year	0	628
Term loans amortized by cost basis, in two years prior to current fiscal year	968	32,578
Term loans amortized by cost basis, in three years prior to current fiscal year	32,309	4,581
Term loans amortized by cost basis, in four years prior to current fiscal year	4,468	4,053
Prior	8,980	5,102
Revolving Loans Amortized Cost Basis	664	643
Total	47,389	48,239
Special Mention | Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	78
Term loans amortized by cost basis, in one year prior to current fiscal year	231	23
Term loans amortized by cost basis, in two years prior to current fiscal year	40	8,076
Term loans amortized by cost basis, in three years prior to current fiscal year	7,748	2,213
Term loans amortized by cost basis, in four years prior to current fiscal year	2,008	3,525
Prior	3,452	0
Revolving Loans Amortized Cost Basis	6,288	13,642
Total	19,767	27,557
Special Mention | US commercial loans | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	1,515
Term loans amortized by cost basis, in three years prior to current fiscal year	1,527	19,095
Term loans amortized by cost basis, in four years prior to current fiscal year	19,135	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	20,662	20,610
Substandard | Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	8,415
Term loans amortized by cost basis, in one year prior to current fiscal year	8,878	10,694
Term loans amortized by cost basis, in two years prior to current fiscal year	10,391	58
Term loans amortized by cost basis, in three years prior to current fiscal year	173	849
Term loans amortized by cost basis, in four years prior to current fiscal year	1,146	1,357
Prior	17,253	17,555
Revolving Loans Amortized Cost Basis	3,740	1,671
Total	41,581	40,599
Substandard | Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	12	112
Term loans amortized by cost basis, in one year prior to current fiscal year	0	48
Term loans amortized by cost basis, in two years prior to current fiscal year	348	155
Term loans amortized by cost basis, in three years prior to current fiscal year	179	394
Term loans amortized by cost basis, in four years prior to current fiscal year	572	81
Prior	100	28
Revolving Loans Amortized Cost Basis	2,160	1,513
Total	3,371	2,331
Substandard | US commercial loans | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	7,156
Term loans amortized by cost basis, in two years prior to current fiscal year	7,143	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	9,651
Term loans amortized by cost basis, in four years prior to current fiscal year	9,626	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	16,769	16,807
Doubtful | Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	20	22
Revolving Loans Amortized Cost Basis	633	744
Total	653	766
Doubtful | Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	49	52
Total	49	52
Doubtful | US commercial loans | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	0	0
Loss | Commercial secured by real estate | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	0	0
Loss | Other commercial and industrial | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	0	0
Loss | US commercial loans | Commercial | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0	0
Term loans amortized by cost basis, in one year prior to current fiscal year	0	0
Term loans amortized by cost basis, in two years prior to current fiscal year	0	0
Term loans amortized by cost basis, in three years prior to current fiscal year	0	0
Term loans amortized by cost basis, in four years prior to current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	$ 0	$ 0

ALLOWANCE FOR CREDIT LOSSES (Na

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in allowance for credit losses	$ 1,100
Provision related to growth in loan balances	4,000
Provision (recapture of) for credit losses	1,551	$ 6,324
PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses	(6,848)	3,326
Recoveries	4,028	986
PCD | Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses	(3,875)	(2,492)
Recoveries	3,023	436
PCD | Commercial loans | Puerto Rico | Government
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	2,800
PCD | Mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses	(2,848)	5,994
Recoveries	845	146
Non-PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses	8,563	2,943
Recoveries	7,812	7,427
Non-PCD | Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses	5,187	1,542
Recoveries	192	430
Non-PCD | Mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses	(2,418)	(2,480)
Recoveries	2,074	615
COVID-19 Pandemic
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision (recapture of) for credit losses		(3,700)
Improved Macroeconomic Conditions
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in allowance for credit losses	(5,700)
Total Past Due | Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in allowance for credit losses	4,200
Provision (recapture of) for credit losses		$ 3,500
Total Past Due | Non-PCD | Mortgage | Loan sales
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	$ 1,100

ALLOWANCE FOR CREDIT LOSSES (Al

ALLOWANCE FOR CREDIT LOSSES (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 155,937
Provision (recapture of) for credit losses	1,551	$ 6,324
Balance at end of period	157,075	201,973
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	40,719	61,989
Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	30,833	46,974
Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	21,131	21,243
Auto and leasing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	64,392	71,767
Non-PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	132,065	161,015
Provision (recapture of) for credit losses	8,563	2,943
Charge-offs	(11,096)	(14,407)
Recoveries	7,812	7,427
Balance at end of period	137,344	156,978
Non-PCD | Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	32,262	45,779
Provision (recapture of) for credit losses	5,187	1,542
Charge-offs	(544)	(68)
Recoveries	192	430
Balance at end of period	37,097	47,683
Non-PCD | Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	15,299	19,687
Provision (recapture of) for credit losses	(2,418)	(2,480)
Charge-offs	(3)	(787)
Recoveries	2,074	615
Balance at end of period	14,952	17,035
Non-PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	19,141	25,253
Provision (recapture of) for credit losses	3,963	(158)
Charge-offs	(2,659)	(4,469)
Recoveries	655	565
Balance at end of period	21,100	21,191
Non-PCD | Auto and leasing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	65,363	70,296
Provision (recapture of) for credit losses	1,831	4,039
Charge-offs	(7,890)	(9,083)
Recoveries	4,891	5,817
Balance at end of period	64,195	71,069
PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	23,872	43,794
Provision (recapture of) for credit losses	(6,848)	3,326
Charge-offs	(1,321)	(3,111)
Recoveries	4,028	986
Balance at end of period	19,731	44,995
PCD | Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	4,508	16,405
Provision (recapture of) for credit losses	(3,875)	(2,492)
Charge-offs	(34)	(43)
Recoveries	3,023	436
Balance at end of period	3,622	14,306
PCD | Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	19,018	26,389
Provision (recapture of) for credit losses	(2,848)	5,994
Charge-offs	(1,134)	(2,590)
Recoveries	845	146
Balance at end of period	15,881	29,939
PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	34	57
Provision (recapture of) for credit losses	13	(4)
Charge-offs	(39)	(22)
Recoveries	23	21
Balance at end of period	31	52
PCD | Auto and leasing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	312	943
Provision (recapture of) for credit losses	(138)	(172)
Charge-offs	(114)	(456)
Recoveries	137	383
Balance at end of period	$ 197	$ 698

FORECLOSED REAL ESTATE (Foreclo

FORECLOSED REAL ESTATE (Foreclosed Real Estate Rollforward) (Details) - Originated Loans - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Real Estate Owned Rollforward [Line Items]
Foreclosed real estate beginning balance	$ 15,039	$ 11,596
Additions	3,180	6,637
Sales	(3,807)	(2,423)
Decline in value	(195)	(89)
Other adjustments	1,080	(123)
Foreclosed real estate ending balance	$ 15,297	$ 15,598

SERVICING ASSETS (Narrative) (D

SERVICING ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Servicing Assets at Fair Value [Line Items]
Fair value of servicing asset	$ 49,446	$ 47,911	$ 48,973	$ 47,295
Servicing fees on mortgage loans	1,137	765
Conventional Mortgage Loan
Servicing Assets at Fair Value [Line Items]
Servicing fees on mortgage loans	$ 5,000	$ 5,200

SERVICING ASSETS (Changes in Se

SERVICING ASSETS (Changes in Serving Rights at Fair Value) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at beginning of period	$ 48,973	$ 47,295
Servicing from mortgage securitization or asset transfers	1,119	1,420
Changes due to payments on loans	(1,499)	(1,507)
Changes in fair value due to changes in valuation model inputs or assumptions	853	703
Fair value at end of period	$ 49,446	$ 47,911

SERVICING ASSETS (Key Economic

SERVICING ASSETS (Key Economic Assumptions) (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Minimum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	3.88%	4.50%
Discount rate	10.00%	10.00%
Maximum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	24.30%	40.50%
Discount rate	15.50%	15.50%

SERVICING ASSETS (Sensitivity o

SERVICING ASSETS (Sensitivity of Current Fair Value of Servicing Assets) (Details) $ in Thousands	Mar. 31, 2022USD ($)
Transfers and Servicing [Abstract]
Carrying value of mortgage servicing asset	$ 49,446
Constant prepayment rate - Decrease in fair value due to 10% adverse change	(924)
Constant prepayment rate - Decrease in fair value due to 20% adverse change	(1,819)
Discount rate - Decrease in fair value due to 10% adverse change	(2,276)
Discount rate - Decrease in fair value due to 20% adverse change	$ (4,373)

DERIVATIVES (Narrative) (Detail

DERIVATIVES (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional amount of derivative contracts outstanding	$ 28,000	$ 28,500
Derivative assets	6	1
Derivative liabilities	$ 191	$ 804

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 86,069,000		$ 86,069,000
Increase (decrease) in carrying amount of goodwill	0		0
Impairment of goodwill	0		0
Amortization of intangible assets	2,146,000	$ 2,451,000
Banking Segment
Finite-Lived Intangible Assets [Line Items]
Goodwill	84,100,000		84,100,000
Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 2,000,000		$ 2,000,000

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Core Deposit, Customer Relationship and Other Intangibles) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 69,722	$ 69,722
Accumulated Amortization	35,775	33,629
Net Carrying Value	33,947	36,093
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	51,402	51,402
Accumulated Amortization	25,410	23,772
Net Carrying Value	25,992	27,630
Customer relationship intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,753	17,753
Accumulated Amortization	9,869	9,385
Net Carrying Value	7,884	8,368
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	567	567
Accumulated Amortization	496	472
Net Carrying Value	$ 71	$ 95

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Amortization of Other Intangible Assets) (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 8,501
2023	6,898
2024	5,913
2025	4,927
2026	3,942
Thereafter	$ 5,912

ACCRUED INTEREST RECEIVABLE A_3

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Schedule of Accrued Interest Receivable) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 56,097	$ 56,560
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	53,427	54,794
Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 2,670	$ 1,766

ACCRUED INTEREST RECEIVABLE A_4

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Other assets [Line Items]
Allowance for credit losses	$ 157,075	$ 155,937	$ 201,973
Prepaid expenses	56,931	61,061
Prepaid municipal, property, and income taxes	51,500	54,600
Other repossessed assets	2,625	1,945
COVID-19 Deferral Program Loans
Other assets [Line Items]
Accrued interest receivable	23,600	23,900
Allowance for credit losses	146	161
COVID-19 Deferral Program Loans | Current
Other assets [Line Items]
Accrued interest receivable	$ 21,800	$ 21,500

ACCRUED INTEREST RECEIVABLE A_5

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Interest Receivable and Other Assets [Abstract]
Prepaid expenses	$ 56,931	$ 61,061
Other repossessed assets	2,625	1,945
Investment in Statutory Trust	0	1,083
Accounts receivable and other assets	82,686	88,756
Other assets	$ 142,242	$ 152,845

DEPOSITS AND RELATED INTEREST_2

DEPOSITS AND RELATED INTEREST (Deposits by Components) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposits and Related Interest [Abstract]
Non-interest bearing demand deposits	$ 2,667,508	$ 2,501,644
Interest-bearing savings and demand deposits	5,132,245	4,880,476
Retail certificates of deposit	966,567	1,007,577
Institutional certificates of deposit	200,536	202,050
Total core deposits	8,966,856	8,591,747
Brokered deposits	11,366	11,371
Total deposits	$ 8,978,222	$ 8,603,118

DEPOSITS AND RELATED INTEREST_3

DEPOSITS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposits and Related Interest [Line Items]
Uninsured deposits	$ 3,626,000	$ 3,270,000
Weighted average interest rate of deposits	0.35%	0.49%
Time deposits in denominations in excess of $250,000	$ 340,300	$ 360,800
Deposits	8,978,222	8,603,118
Public funds collateral investments	284,900	228,900
Accrued interest on time deposits	578	736
Overdrafts in demand deposit accounts	392	491
Government | Puerto Rico
Deposits and Related Interest [Line Items]
Deposits	$ 248,300	$ 183,800

DEPOSITS AND RELATED INTEREST_4

DEPOSITS AND RELATED INTEREST (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Deposits and Related Interest [Abstract]
Demand and savings deposits	$ 4,976	$ 6,371
Certificates of deposit	2,065	5,653
Total	$ 7,041	$ 12,024

DEPOSITS AND RELATED INTEREST_5

DEPOSITS AND RELATED INTEREST (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Period-end amount, within one year:
Three months or less	$ 245,840	$ 252,513
Over 3 months through 6 months	149,348	147,400
Over 6 months through 1 year	257,661	239,830
Within one year	652,849	639,743
Period-end amount, after one year:
Over 1 through 2 years	278,011	328,177
Over 2 through 3 years	118,924	114,403
Over 3 through 4 years	75,209	77,604
Over 4 through 5 years	51,546	58,918
Over 5 years	1,352	1,417
Certificates of deposit	1,177,891	1,220,262
Uninsured amount, within one year:
Three months or less	19,710	25,003
Over 3 months through 6 months	28,222	12,113
Over 6 months through 1 year	47,713	45,280
Within one year	95,645	82,396
Uninsured amount, after one year:
Over 1 through 2 years	40,392	60,108
Over 2 through 3 years	18,440	18,578
Over 3 through 4 years	24,046	22,536
Over 4 through 5 years	5,805	8,505
Over 5 years	0	0
Uninsured amount	$ 184,328	$ 192,123

BORROWINGS AND RELATED INTERE_3

BORROWINGS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Sep. 30, 2003
Debt Instrument [Line Items]
Loans, gross	$ 6,547,971		$ 6,402,586
Trust redeemable preferred securities issued				$ 35,000
Gain from early debt extinguishment	42	$ 0
Subordinated capital notes	$ 0		36,083
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Minimum amount of qualifying collateral	110.00%
Additional borrowing capacity	$ 664,300		$ 697,300
Weighted average period remaining maturity of FHLB advances	1 day		3 days
Original debt instrument term of FHLB advances	1 month
Accrued interest payable	$ 13		$ 8
Advances from the Federal Home Loan Bank | Asset Pledged as Collateral
Debt Instrument [Line Items]
Loans, gross	910,700		$ 949,000
Junior Subordinated Debt
Debt Instrument [Line Items]
Par value of subordinated deferrable interest debenture	36,100
Write off of unamortized issuance costs	$ 405
Effective interest rate	3.23%
Gain from early debt extinguishment	$ 42
Junior Subordinated Debt | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.95%

BORROWINGS AND RELATED INTERE_4

BORROWINGS AND RELATED INTEREST (Schedule of Federal Home Loan Bank Advances And Maturity) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Advances from the Federal Home Loan Bank | Under 90 days
Debt Instrument [Line Items]
Debt and lease obligation	$ 28,022	$ 28,480
Short-Term Fixed-Rate Advances from FHLB | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Debt and lease obligation	$ 28,022	$ 28,480
Short-Term Fixed-Rate Advances from FHLB | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Weighted average interest rate of FHLB advances	0.33%	0.35%

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Statutory tax rate	37.50%
Deferred tax assets, valuation allowance	$ 10,100			$ 9,600
Deferred tax asset, net	87,600			99,100
Increase in valuation allowance	$ 420
Effective tax rate	30.60%	31.90%
Unrecognized tax benefits	$ 815			$ 798
Income tax expense	$ 16,573	$ 14,248
Forecast
Income Tax Examination [Line Items]
Expected effective tax rate for 2022			32.40%

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
OFG Bancorp
Amount
Actual - Total capital to risk-weighted assets	$ 1,045,437	$ 1,086,897
Actual - Tier 1 capital to risk-weighted assets	955,221	999,284
Actual - Common equity tier 1 capital to risk-weighted assets	955,221	964,284
Actual - Tier 1 capital to average total assets	955,221	999,284
Minimum Capital Requirement - Total capital to risk-weighted assets	757,543	735,512
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	613,249	595,414
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	505,028	490,341
Minimum Capital Requirement - Tier 1 capital to average total assets	400,333	412,359
Minimum to be Well Capitalized - Total capital to risk-weighted assets	721,469	700,488
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	577,175	560,390
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	468,955	455,317
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 500,416	$ 515,449
Ratio
Actual - total capital to risk-weighted assets	0.1449	0.1552
Actual - Tier 1 capital to risk-weighted assets	0.1324	0.1427
Actual - Common equity tier 1 capital to risk-weighted assets	13.24%	13.77%
Actual - Tier 1 capital to average total assets	0.0954	0.0969
Minimum Capital Requirement - Total capital to risk-weighted assets	0.1050	0.1050
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	0.0850	0.0850
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	7.00%	7.00%
Minimum Capital Requirement - Tier 1 capital to average total assets	0.0400	0.0400
Minimum to be Well Capitalized - Total capital to risk-weighted assets	0.1000	0.1000
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	0.0800	0.0800
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	6.50%	6.50%
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500
Bank
Amount
Actual - Total capital to risk-weighted assets	$ 1,000,591	$ 995,549
Actual - Tier 1 capital to risk-weighted assets	910,777	908,717
Actual - Common equity tier 1 capital to risk-weighted assets	910,777	908,717
Actual - Tier 1 capital to average total assets	910,777	908,717
Minimum Capital Requirement - Total capital to risk-weighted assets	754,127	728,867
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	610,484	590,035
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	502,751	485,911
Minimum Capital Requirement - Tier 1 capital to average total assets	397,348	409,855
Minimum to be Well Capitalized - Total capital to risk-weighted assets	718,216	694,159
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	574,573	555,327
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	466,840	451,203
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 496,685	$ 512,319
Ratio
Actual - total capital to risk-weighted assets	0.1393	0.1434
Actual - Tier 1 capital to risk-weighted assets	0.1268	0.1309
Actual - Common equity tier 1 capital to risk-weighted assets	12.68%	13.09%
Actual - Tier 1 capital to average total assets	0.0917	0.0887
Minimum Capital Requirement - Total capital to risk-weighted assets	0.1050	0.1050
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	0.0850	0.0850
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	7.00%	7.00%
Minimum Capital Requirement - Tier 1 capital to average total assets	0.0400	0.0400
Minimum to be Well Capitalized - Total capital to risk-weighted assets	0.1000	0.1000
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	0.0800	0.0800
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	6.50%	6.50%
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500

STOCKHOLDERS_ EQUITY (Narrative

STOCKHOLDERS’ EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jan. 26, 2022	Dec. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Common stock	$ 59,885			$ 59,885
Legal surplus	121,400			$ 117,700
Stock repurchase program, authorized amount	$ 100,000		$ 100,000
Shares repurchased during period (in shares)	1,219,132	0
Common shares repurchased	$ 33,479	$ 0
Share repurchased, average price per share (in dollars per share)	$ 27.46
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	2,497,051
Stock repurchase program, remaining authorized repurchase amount	$ 66,500
Share price (in dollars per share)	$ 26.64
Preferred stock
Equity, Class of Treasury Stock [Line Items]
Preferred stock, redemption price (in dollars per share)				$ 25
Common stock
Equity, Class of Treasury Stock [Line Items]
Accumulated common stock issuance costs charged against paid in capital	$ 13,600			$ 13,600
Shares repurchased during period (in shares)	0

STOCKHOLDERS_ EQUITY (Activity

STOCKHOLDERS’ EQUITY (Activity of Common Shares Held in Treasury) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Shares
Beginning of period (in shares)	10,248,882	8,498,163
Common shares used upon lapse of restricted stock units and options (in shares)	(255,893)	(192,174)
Common shares repurchased as part of the stock repurchase programs (in shares)	1,219,132	0
End of period (in shares)	11,212,121	8,305,989
Dollar Amount
Beginning of period	$ 150,572	$ 102,949
Common shares used upon lapse of restricted stock units and options	(3,334)	(1,955)
Common shares repurchased as part of the stock repurchase programs	33,479	0
End of period	$ 180,717	$ 100,994

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Accumulated Comprehensive Income, Net of Income Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss on cash flow hedges	$ 619	$ 247
Accumulated other comprehensive (loss) income, net of income taxes	(20,638)		$ 5,160
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income, net of income taxes	(20,638)		5,160
Net unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired	(23,460)		7,292
Income tax effect of unrealized loss (gain) on securities available-for-sale	2,938		(1,629)
Net unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired	(20,522)		5,663
Net unrealized loss on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss on cash flow hedges	(185)		(804)
Income tax effect of unrealized loss on cash flow hedges	69		301
Net unrealized loss on cash flow hedges	$ (116)		$ (503)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ 1,069,160
Balance at end of period	1,040,035	$ 1,108,423
Net unrealized gain (loss) on securities available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	5,663	12,092
Other comprehensive income (loss) before reclassifications	(26,187)	(4,948)
Amounts reclassified out of accumulated other comprehensive income	2	1
Other comprehensive income (loss)	(26,185)	(4,947)
Balance at end of period	(20,522)	7,145
Net unrealized loss on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(503)	(1,070)
Other comprehensive income (loss) before reclassifications	194	(304)
Amounts reclassified out of accumulated other comprehensive income	193	459
Other comprehensive income (loss)	387	155
Balance at end of period	(116)	(915)
Accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	5,160	11,022
Other comprehensive income (loss) before reclassifications	(25,993)	(5,252)
Amounts reclassified out of accumulated other comprehensive income	195	460
Other comprehensive income (loss)	(25,798)	(4,792)
Balance at end of period	$ (20,638)	$ 6,230

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Reclassifications Out of Other Comprehensive Income) (Details) - Reclassification out of Accumulated Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest-rate contracts	$ 193	$ 459
Tax effect from changes in tax rates	2	1
Total	$ 195	$ 460

EARNINGS PER COMMON SHARE (Sche

EARNINGS PER COMMON SHARE (Schedule of Earnings Per Share Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income	$ 37,521	$ 30,373
Non-convertible preferred stock (Series A, B, and D)	0	(1,255)
Income available to common shareholders	$ 37,521	$ 29,118
Average common shares outstanding (in shares)	48,968	51,397
Average potential common shares-options (in shares)	516	355
Total weighted average common shares outstanding and equivalents (in shares)	49,484	51,752
Earnings per common share - basic (in dollars per share)	$ 0.77	$ 0.57
Earnings per common share - diluted (in dollars per share)	$ 0.76	$ 0.56

EARNINGS PER COMMON SHARE (Narr

EARNINGS PER COMMON SHARE (Narrative) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Weighted average stock options with an anti dilutive effect excluded from calculation of earnings per share (in shares)	0	0
Quarterly common stock cash dividend (in dollars per share)	$ 0.15	$ 0.08

GUARANTEES (Narrative) (Details

GUARANTEES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Guarantor Obligations [Line Items]
Acquired standby letters of credit and financial guarantees	$ 29,400		$ 25,200
Unpaid principal balance of residential subject loans subject to credit recourse	118,700		121,800
Repurchased GNMA	718	$ 980
Repurchased loans not subject to credit recourse provision	7,800	12,600
Gain (loss) from early extinguishment of debt	42	0
Serviced mortgage loans for third parties	5,800,000		5,700,000
Funds advanced to investors under servicing agreements	14,400		12,900
Recourse
Guarantor Obligations [Line Items]
Liability for estimated credit losses to loans sold with credit recourse	194		294
Gain (loss) from early extinguishment of debt	100	22
Nonrecourse
Guarantor Obligations [Line Items]
Gain (loss) from early extinguishment of debt	2	$ (1,300)
Loan serviced under representation warranties
Guarantor Obligations [Line Items]
Liability for estimated credit losses to loans sold with credit recourse	$ 2,900		$ 3,400

GUARANTEES (Changes in Liabilit

GUARANTEES (Changes in Liability of Estimated Loss from Credit Recourse Agreement) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Balance at beginning of period	$ 294	$ 218
Net recoveries (charge-offs/terminations)	(100)	(23)
Balance at end of period	$ 194	$ 195

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Summarized Credit-Related Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments to extend credit	$ 1,349,603	$ 1,365,273
Commercial letters of credit	26,068	48,196
Standby letters of credit and financial guarantees	29,395	25,203
Loans sold with recourse	$ 118,742	$ 121,778

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Allowance for credit losses for off-balance sheet	$ 857	$ 1,000
Other non-credit commitments	23,000	8,900
Contingency loss accrued liability	4,900	7,000
Technology Commitments
Other Commitments [Line Items]
Commitments for capital expenditures in technology	$ 13,900	$ 15,400

OPERATING LEASES (Operating Lea

OPERATING LEASES (Operating Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Lessee Disclosure [Abstract]
Lease costs	$ 2,555	$ 3,373
Variable lease costs	547	493
Short-term lease cost	255	20
Lease income	(77)	(120)
Total lease cost	$ 3,280	$ 3,766

OPERATING LEASES (Operating L_2

OPERATING LEASES (Operating Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Lessee Disclosure [Abstract]
Right-of-use assets	$ 28,576	$ 28,846
Lease Liabilities	$ 30,287	$ 30,498

OPERATING LEASES (Operating L_3

OPERATING LEASES (Operating Lease Terms) (Details)	Mar. 31, 2022
Lessee Disclosure [Abstract]
Weighted-average remaining lease term (in years)	5 years 6 months
Weighted-average discount rate (percentage)	6.60%

OPERATING LEASES (Future Minimu

OPERATING LEASES (Future Minimum Payments for Operating Leases and Present Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Lessee Disclosure [Abstract]
2022	$ 6,898
2023	8,310
2024	6,153
2025	4,556
2026	3,001
Thereafter	7,656
Total lease payments	36,574
Less imputed interest	6,288
Present value of lease liabilities	$ 30,287	$ 30,498

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities on Recurring and Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	$ 880,338	$ 510,713
Trading securities	18	20
Money market investments	5,648	8,952	$ 11,401
Derivative assets	6	1
Servicing assets	49,446	48,973	$ 47,911	$ 47,295
Other repossessed assets	2,625	1,945
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	880,338	510,713
Trading securities	18	20
Money market investments	5,648	8,952
Derivative assets	6	1
Servicing assets	49,446	48,973
Derivative liabilities	(191)	(804)
Total	935,265	567,855
Recurring fair value measurements | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	10,763	10,825
Trading securities	0	0
Money market investments	5,648	8,952
Derivative assets	0	0
Servicing assets	0	0
Derivative liabilities	0	0
Total	16,411	19,777
Recurring fair value measurements | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	868,021	498,358
Trading securities	18	20
Money market investments	0	0
Derivative assets	6	1
Servicing assets	0	0
Derivative liabilities	(191)	(804)
Total	867,854	497,575
Recurring fair value measurements | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,554	1,530
Trading securities	0	0
Money market investments	0	0
Derivative assets	0	0
Servicing assets	49,446	48,973
Derivative liabilities	0	0
Total	51,000	50,503
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	21,279	10,233
Foreclosed real estate	15,297	15,039
Other repossessed assets	2,625	1,945
Total	39,201	27,217
Non-recurring fair value measurements | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0	0
Foreclosed real estate	0	0
Other repossessed assets	0	0
Total	0	0
Non-recurring fair value measurements | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	0	0
Foreclosed real estate	0	0
Other repossessed assets	0	0
Total	0	0
Non-recurring fair value measurements | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	21,279	10,233
Foreclosed real estate	15,297	15,039
Other repossessed assets	2,625	1,945
Total	$ 39,201	$ 27,217

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Reconciliation of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)) (Details) - Recurring fair value measurements - Level 3 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning year	$ 50,503
New instruments acquired	1,119
Principal repayments and amortization	(1,499)
Gains included in earnings	853
Gains included in other comprehensive income	24
Balance at end of year	51,000
Other debt securities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning year	1,530
New instruments acquired	0
Principal repayments and amortization	0
Gains included in earnings	0
Gains included in other comprehensive income	24
Balance at end of year	1,554
Servicing Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning year	48,973	$ 47,295
New instruments acquired	1,119	1,420
Principal repayments and amortization	(1,499)	(1,507)
Gains included in earnings	853	703
Gains included in other comprehensive income	0	0
Balance at end of year	$ 49,446	$ 47,911

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Transfers into or out of level 3	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Qualitative Information for Assets and Liabilities) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value
Investment securities available-for-sale	$ 880,338		$ 510,713
Servicing assets	49,446	$ 47,911	48,973	$ 47,295
Other repossessed assets	$ 2,625		$ 1,945
Minimum
Unobservable Input
Constant prepayment rate	3.88%	4.50%
Maximum
Unobservable Input
Constant prepayment rate	24.30%	40.50%
Level 3 | Cash flow valuation | Other debt securities available for sale
Fair Value
Investment securities available-for-sale	$ 1,554
Level 3 | Cash flow valuation | Other debt securities available for sale | Recovery Rate
Unobservable Input
Other debt securities, measurement input	0.3473
Level 3 | Cash flow valuation | Servicing Assets
Fair Value
Servicing assets	$ 49,446
Level 3 | Cash flow valuation | Minimum | Other debt securities available for sale
Unobservable Input
Credit rating	Baa1
Level 3 | Cash flow valuation | Minimum | Other debt securities available for sale | Probability of Default Rate
Unobservable Input
Other debt securities, measurement input	0.0016
Level 3 | Cash flow valuation | Minimum | Servicing Assets
Unobservable Input
Constant prepayment rate	3.88%
Discount rate	10.00%
Level 3 | Cash flow valuation | Maximum | Other debt securities available for sale
Unobservable Input
Credit rating	Baa3
Level 3 | Cash flow valuation | Maximum | Other debt securities available for sale | Probability of Default Rate
Unobservable Input
Other debt securities, measurement input	0.0228
Level 3 | Cash flow valuation | Maximum | Servicing Assets
Unobservable Input
Constant prepayment rate	24.30%
Discount rate	15.50%
Level 3 | Cash flow valuation | Weighted Average | Other debt securities available for sale
Unobservable Input
Credit rating	Baa2
Level 3 | Cash flow valuation | Weighted Average | Other debt securities available for sale | Probability of Default Rate
Unobservable Input
Other debt securities, measurement input	0.0033
Level 3 | Cash flow valuation | Weighted Average | Other debt securities available for sale | Recovery Rate
Unobservable Input
Other debt securities, measurement input	0.3473
Level 3 | Cash flow valuation | Weighted Average | Servicing Assets
Unobservable Input
Constant prepayment rate	5.97%
Discount rate	11.46%
Level 3 | Fair value of property or collateral | Collateralized loan obligations
Fair Value
Collateral dependent loans	$ 21,279
Level 3 | Fair value of property or collateral | Foreclosed real estate
Fair Value
Foreclosed real estate	15,297
Level 3 | Fair value of property or collateral | Other repossessed assets
Fair Value
Other repossessed assets	$ 2,625
Level 3 | Fair value of property or collateral | Minimum | Collateralized loan obligations
Unobservable Input
Appraised value less disposition costs	10.20%
Level 3 | Fair value of property or collateral | Minimum | Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	10.20%
Level 3 | Fair value of property or collateral | Minimum | Other repossessed assets
Unobservable Input
Estimated net realizable value less disposition costs	26.00%
Level 3 | Fair value of property or collateral | Maximum | Collateralized loan obligations
Unobservable Input
Appraised value less disposition costs	30.20%
Level 3 | Fair value of property or collateral | Maximum | Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	30.20%
Level 3 | Fair value of property or collateral | Maximum | Other repossessed assets
Unobservable Input
Estimated net realizable value less disposition costs	82.00%
Level 3 | Fair value of property or collateral | Weighted Average | Collateralized loan obligations
Unobservable Input
Appraised value less disposition costs	17.20%
Level 3 | Fair value of property or collateral | Weighted Average | Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	11.79%
Level 3 | Fair value of property or collateral | Weighted Average | Other repossessed assets
Unobservable Input
Estimated net realizable value less disposition costs	56.16%

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Estimated Fair Value and Carrying Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financial Assets:
Restricted cash	$ 175	$ 175	$ 1,050
Investment securities available-for-sale	880,338	510,713
Trading securities	18	20
Investment securities held-to-maturity	329,969	363,653
Derivative assets	6	1
Total loans (including loans held-for-sale)	6,390,896	6,246,649
Servicing assets	49,446	48,973	$ 47,911	$ 47,295
Level 1 | Fair Value
Financial Assets:
Cash and cash equivalents	1,855,554	2,023,475
Restricted cash	175	175
Investment securities available-for-sale	10,763	10,825
Level 1 | Carrying Value
Financial Assets:
Cash and cash equivalents	1,855,554	2,023,475
Restricted cash	175	175
Investment securities available-for-sale	10,763	10,825
Level 2 | Fair Value
Financial Assets:
Investment securities available-for-sale	868,021	498,358
Trading securities	18	20
Investment securities held-to-maturity	329,969	363,653
Federal Home Loan Bank (FHLB) stock	5,946	5,966
Equity securities	12,610	11,612
Derivative assets	6	1
Financial Liabilities:
Derivative liabilities	191	804
Level 2 | Carrying Value
Financial Assets:
Investment securities available-for-sale	868,021	498,358
Trading securities	18	20
Investment securities held-to-maturity	359,806	367,507
Federal Home Loan Bank (FHLB) stock	5,946	5,966
Equity securities	12,610	11,612
Derivative assets	6	1
Financial Liabilities:
Derivative liabilities	191	804
Level 3 | Fair Value
Financial Assets:
Investment securities available-for-sale	1,554	1,530
Total loans (including loans held-for-sale)	6,360,479	6,197,347
Accrued interest receivable	56,097	56,560
Servicing assets	49,446	48,973
Accounts receivable and other assets		88,756
Financial Liabilities:
Deposits	8,987,296	8,614,073
Advances from FHLB	28,022	28,480
Subordinated capital notes	0	36,084
Accrued expenses and other liabilities	83,492	96,240
Level 3 | Carrying Value
Financial Assets:
Investment securities available-for-sale	1,554	1,530
Total loans (including loans held-for-sale)	6,449,130	6,329,311
Accrued interest receivable	56,097	56,560
Servicing assets	49,446	48,973
Accounts receivable and other assets		88,756
Financial Liabilities:
Deposits	8,978,222	8,603,118
Advances from FHLB	28,035	28,488
Subordinated capital notes	0	36,083
Accrued expenses and other liabilities	$ 83,492	$ 96,240

BANKING AND FINANCIAL SERVICE_3

BANKING AND FINANCIAL SERVICE REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Banking service revenues:
Checking accounts fees	$ 2,145	$ 1,962
Savings accounts fees	279	252
Electronic banking fees	13,094	12,883
Credit life commissions	304	117
Branch service commissions	360	361
Servicing and other loan fees	1,137	765
International fees	239	151
Miscellaneous income	4	6
Total banking service revenues	17,562	16,497
Wealth management revenue:
Insurance income	3,034	2,231
Broker fees	1,889	2,124
Trust fees	2,741	2,781
Retirement plan and administration fees	193	252
Total wealth management revenue	7,857	7,388
Mortgage banking activities:
Net servicing fees	4,363	4,351
Net gains on sale of mortgage loans and valuation	1,315	2,492
Other	104	(1,270)
Total mortgage banking activities	5,782	5,573
Total banking and financial service revenues	$ 31,201	$ 29,458

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Interest income	$ 112,949	$ 110,976
Interest expense	(7,755)	(12,778)
Net interest income	105,194	98,198
Provision (recapture of) for credit losses	1,551	6,324
Non-interest income (loss)	31,606	30,413
Non-interest expenses	(81,155)	(77,666)
Intersegment revenue	0	0
Intersegment expenses	0	0
Income before income taxes	54,094	44,621
Income tax expense	16,573	14,248
Net income	37,521	30,373
Total assets	10,190,120	10,153,342	$ 9,899,720
Total Major Segments
Segment Reporting Information [Line Items]
Interest income	112,949	110,976
Interest expense	(7,755)	(12,778)
Net interest income	105,194	98,198
Provision (recapture of) for credit losses	1,551	6,324
Non-interest income (loss)	31,606	30,413
Non-interest expenses	(81,155)	(77,666)
Income before income taxes	54,094	44,621
Income tax expense	16,573	14,248
Net income	37,521	30,373
Total assets	11,237,550	11,190,581
Total Major Segments | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	489	553
Intersegment expenses	(489)	(553)
Eliminations
Segment Reporting Information [Line Items]
Interest income	0	0
Interest expense	0	0
Net interest income	0	0
Provision (recapture of) for credit losses	0	0
Non-interest income (loss)	0	0
Non-interest expenses	0	0
Intersegment revenue	(489)	(553)
Intersegment expenses	489	553
Income before income taxes	0	0
Income tax expense	0	0
Net income	0	0
Total assets	(1,047,430)	(1,037,239)
Banking | Total Major Segments
Segment Reporting Information [Line Items]
Interest income	108,483	108,230
Interest expense	(7,532)	(12,136)
Net interest income	100,951	96,094
Provision (recapture of) for credit losses	1,710	6,588
Non-interest income (loss)	23,550	22,873
Non-interest expenses	(75,916)	(73,874)
Income before income taxes	47,364	39,058
Income tax expense	16,564	14,236
Net income	30,800	24,822
Total assets	8,176,217	8,312,367
Banking | Total Major Segments | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	489	553
Intersegment expenses	0	0
Wealth Management | Total Major Segments
Segment Reporting Information [Line Items]
Interest income	5	12
Interest expense	0	0
Net interest income	5	12
Provision (recapture of) for credit losses	0	0
Non-interest income (loss)	8,006	7,531
Non-interest expenses	(4,585)	(2,829)
Income before income taxes	3,083	4,423
Income tax expense	0	0
Net income	3,083	4,423
Total assets	24,695	28,505
Wealth Management | Total Major Segments | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0
Intersegment expenses	(343)	(291)
Treasury | Total Major Segments
Segment Reporting Information [Line Items]
Interest income	4,461	2,734
Interest expense	(223)	(642)
Net interest income	4,238	2,092
Provision (recapture of) for credit losses	(159)	(264)
Non-interest income (loss)	50	9
Non-interest expenses	(654)	(963)
Income before income taxes	3,647	1,140
Income tax expense	9	12
Net income	3,638	1,128
Total assets	3,036,638	2,849,709
Treasury | Total Major Segments | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0
Intersegment expenses	$ (146)	$ (262)