OFG Bancorp (OFG) 10-Q5 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

COVER

COVER - shares	6 Months Ended
COVER - shares	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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	254 Muñoz 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		47,553,723
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001030469
Current Fiscal Year End Date	--12-31

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and due from banks	$ 1,302,199	$ 2,014,523
Money market investments	4,913	8,952
Total cash and cash equivalents	1,307,112	2,023,475
Restricted cash	169	175
Investments:
Trading securities, at fair value, with amortized cost of $163 (December 31, 2021 - $162)	13	20
Investment securities available-for-sale, at fair value, with amortized cost of $1,217,883 (December 31, 2021 - $503,421); no allowance for credit losses	1,159,570	510,713
Investment securities held-to-maturity, at amortized cost, with fair value of $501,747 (December 31, 2021 - $363,653); no allowance for credit losses	547,832	367,507
Equity securities	19,848	17,578
Total investments	1,727,263	895,818
Loans:
Loans held-for-sale, at lower of cost or fair value	41,588	82,662
Loans held for investment, net of allowance for credit losses of $159,039 (December 31, 2021 - $155,937)	6,543,622	6,246,649
Total loans	6,585,210	6,329,311
Other assets:
Foreclosed real estate	15,061	15,039
Accrued interest receivable	58,371	56,560
Deferred tax asset, net	76,101	99,063
Premises and equipment, net	101,848	92,124
Customers' liability on acceptances	27,150	35,329
Servicing assets	49,280	48,973
Goodwill	86,069	86,069
Other intangible assets	31,800	36,093
Operating lease right-of-use assets	27,699	28,846
Other assets	154,641	152,845
Total assets	10,247,774	9,899,720
Deposits:
Demand deposits	5,459,104	5,204,340
Savings accounts	2,433,819	2,177,780
Time deposits	1,136,647	1,220,998
Total deposits	9,029,570	8,603,118
Borrowings:
Advances from FHLB	27,586	28,488
Subordinated capital notes	0	36,083
Other borrowings	32	0
Total borrowings	27,618	64,571
Other liabilities:
Derivative liabilities	21	804
Acceptances executed and outstanding	27,150	35,329
Operating lease liabilities	29,538	30,498
Accrued expenses and other liabilities	119,065	96,240
Total liabilities	9,232,962	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: 47,553,723 shares outstanding (December 31, 2021 - 59,885,234 shares issued; 49,636,352 shares outstanding)	59,885	59,885
Additional paid-in capital	634,612	637,061
Legal surplus	125,365	117,677
Retained earnings	455,590	399,949
Treasury stock, at cost, 12,331,511 shares (December 31, 2021 - 10,248,882 shares)	(211,138)	(150,572)
Accumulated other comprehensive (loss) income, net of tax of $8,646 (December 31, 2021 - $1,328)	(49,502)	5,160
Total stockholders’ equity	1,014,812	1,069,160
Total liabilities and stockholders’ equity	$ 10,247,774	$ 9,899,720

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Trading securities, amortized cost	$ 163	$ 162
Investment securities available-for-sale, amortized cost	1,217,883	503,421
Investment securities available-for-sale, allowance for credit loss	0	0
Investment securities held-to-maturity, fair value	501,747	363,653
Investment securities held-to-maturity, allowance for credit loss	0	0
Loans held for investment, allowance for credit losses	$ 159,039	$ 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)	47,553,723	49,636,352
Treasury stock, at cost (in shares)	12,331,511	10,248,882
Accumulated other comprehensive income, tax (benefit) expense	$ (8,646)	$ 1,328

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income:
Loans	$ 111,357	$ 110,055	$ 218,922	$ 218,260
Mortgage-backed securities	7,438	2,556	11,759	4,597
Investment securities and other	3,427	846	4,490	1,576
Total interest income	122,222	113,457	235,171	224,433
Interest expense:
Deposits	6,944	10,460	13,985	22,484
Advances from FHLB and other borrowings	184	452	377	911
Subordinated capital notes	0	294	521	589
Total interest expense	7,128	11,206	14,883	23,984
Net interest income	115,094	102,251	220,288	200,449
Provision for (recapture of) credit losses	6,691	(8,305)	8,242	(1,981)
Net interest income after provision for credit losses	108,403	110,556	212,046	202,430
Non-interest income:
Banking service revenue	18,141	18,251	35,703	34,748
Wealth management revenue	8,270	8,263	16,127	15,651
Mortgage banking activities	4,803	4,540	10,585	10,113
Total banking and financial service revenues	31,214	31,054	62,415	60,512
Net gain on:
Early extinguishment of debt	0	0	42	0
Other non-interest income	4,996	1,143	5,359	2,098
Total non-interest income, net	36,210	32,197	67,816	62,610
Non-interest expense:
Compensation and employee benefits	34,730	32,919	69,498	65,537
Occupancy, equipment and infrastructure costs	12,861	12,528	24,777	25,656
Electronic banking charges	9,722	9,316	19,508	17,548
Information technology expenses	5,528	5,532	10,332	9,786
Professional and service fees	7,362	5,399	12,783	9,935
Taxes, other than payroll and income taxes	3,266	3,617	6,573	7,278
Insurance	2,429	2,673	5,064	5,129
Loan servicing and clearing expenses	2,243	1,942	4,165	3,782
Advertising, business promotion, and strategic initiatives	1,827	1,707	3,889	3,137
Communication	1,132	1,039	2,248	2,004
Printing, postage, stationery and supplies	785	941	1,877	2,159
Director and investor relations	346	324	595	623
Pandemic expenses	1,099	1,531	1,980	3,300
Foreclosed real estate and other repossessed assets (income) expenses, net	(1,404)	327	(2,886)	278
Other	3,332	2,881	6,010	4,190
Total non-interest expense	85,258	82,676	166,413	160,342
Income before income taxes	59,355	60,077	113,449	104,698
Income tax expense	18,923	19,250	35,496	33,498
Net income	40,432	40,827	77,953	71,200
Less: dividends on preferred stock	0	0	0	(1,255)
Income available to common shareholders	$ 40,432	$ 40,827	$ 77,953	$ 69,945
Earnings per common share:
Basic (in dollars per share)	$ 0.84	$ 0.79	$ 1.61	$ 1.36
Diluted (in dollars per share)	$ 0.84	$ 0.78	$ 1.59	$ 1.35
Average common shares outstanding and equivalents (in shares)	48,389	52,048	48,933	51,885
Cash dividends per share of common stock (in dollars per share)	$ 0.15	$ 0.08	$ 0.30	$ 0.16

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 40,432	$ 40,827	$ 77,953	$ 71,200
Other comprehensive (loss) income before tax:
Unrealized (loss) gain on securities available-for-sale	(34,853)	1,404	(65,605)	(3,964)
Unrealized gain on cash flow hedges	350	172	969	419
Other comprehensive (loss) income before taxes	(34,503)	1,576	(64,636)	(3,545)
Income tax effect	5,639	(206)	9,974	123
Other comprehensive (loss) income after taxes	(28,864)	1,370	(54,662)	(3,422)
Comprehensive income	$ 11,568	$ 42,197	$ 23,291	$ 67,778

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 (loss) income, net of tax
Balance at beginning of period at Dec. 31, 2020			$ 92,000		$ 622,652	$ 103,269	$ 300,096	$ (102,949)	$ 11,022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of preferred stock			(68,000)
Stock-based compensation expense					3,614
Lapsed restricted stock units					(1,948)			2,230
Redemption of preferred stock, issuance costs					2,677		(2,677)
Transfer from retained earnings						6,966
Net income		$ 71,200					71,200
Cash dividends declared on common stock	[1]						(8,397)
Cash dividends declared on preferred stock							(1,255)
Transfer to legal surplus							(6,966)
Stock repurchased		0
Other comprehensive (loss) income, net of tax		(3,422)							(3,422)
Balance at end of period at Jun. 30, 2021		1,079,997	24,000	$ 59,885	626,995	110,235	352,001	(100,719)	7,600
Balance at beginning of period at Mar. 31, 2021			92,000		622,935	106,165	322,202	(100,994)	6,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of preferred stock			(68,000)
Stock-based compensation expense					1,405
Lapsed restricted stock units					(22)			275
Redemption of preferred stock, issuance costs					2,677		(2,677)
Transfer from retained earnings						4,070
Net income		40,827					40,827
Cash dividends declared on common stock	[1]						(4,281)
Transfer to legal surplus							(4,070)
Other comprehensive (loss) income, net of tax		1,370							1,370
Balance at end of period at Jun. 30, 2021		1,079,997	$ 24,000	59,885	626,995	110,235	352,001	(100,719)	7,600
Balance at beginning of period at Dec. 31, 2021		1,069,160			637,061	117,677	399,949	(150,572)	5,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense					2,004
Lapsed restricted stock units					(4,453)			3,544
Transfer from retained earnings						7,688
Net income		77,953					77,953
Cash dividends declared on common stock	[1]						(14,624)
Transfer to legal surplus							(7,688)
Stock repurchased		(64,110)						(64,110)
Other comprehensive (loss) income, net of tax		(54,662)							(54,662)
Balance at end of period at Jun. 30, 2022		1,014,812		59,885	634,612	125,365	455,590	(211,138)	(49,502)
Balance at beginning of period at Mar. 31, 2022					633,796	121,389	426,320	(180,717)	(20,638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense					1,031
Lapsed restricted stock units					(215)			211
Redemption of preferred stock, issuance costs							0
Transfer from retained earnings						3,976
Net income		40,432					40,432
Cash dividends declared on common stock	[1]						(7,186)
Transfer to legal surplus							(3,976)
Stock repurchased								(30,632)
Other comprehensive (loss) income, net of tax		(28,864)							(28,864)
Balance at end of period at Jun. 30, 2022		$ 1,014,812		$ 59,885	$ 634,612	$ 125,365	$ 455,590	$ (211,138)	$ (49,502)

[1]Dividends declared per common share during the quarter ended June 30, 2022 - $0.15 (June 30, 2021 - $0.08). Dividends declared per common share during the six-month period ended June 30, 2022 - $0.30 (June 30, 2021 - $0.16).

UNAUDITED CONSOLIDATED STATEM_6

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.15	$ 0.08	$ 0.30	$ 0.16

UNAUDITED CONSOLIDATED STATEM_7

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 77,953	$ 71,200
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	(745)	997
Amortization of investment securities premiums, net of accretion of discounts	1,461	1,583
Amortization of other intangible assets	4,293	4,901
Net change in operating leases	187	248
Depreciation and amortization of premises and equipment	7,353	6,913
Deferred income tax expense, net	32,933	8,733
Provision for credit losses	8,241	(1,981)
Stock-based compensation	2,004	3,614
(Gain) loss on:
Sale of loans	(1,169)	(3,833)
Early extinguishment of debt	(42)	0
Foreclosed real estate and other repossessed assets	(8,012)	(2,757)
Sale of other assets	(4,747)	(570)
Originations and purchases of loans held-for-sale	(116,314)	(197,376)
Proceeds from sale of loans held-for-sale	86,596	127,053
Net decrease (increase) in:
Trading securities	7	(7)
Accrued interest receivable	(2,066)	5,947
Servicing assets	(307)	(417)
Other assets	(716)	(3,321)
Net (decrease) increase in:
Accrued interest on deposits and borrowings	(151)	(578)
Accrued expenses and other liabilities	2,924	48,085
Net cash provided by operating activities	89,683	68,434
Purchases of:
Investment securities available-for-sale	(719,459)	(27,886)
Investment securities held-to-maturity	(196,742)	(126,777)
FHLB stock	(122)	0
Equity securities	(2,189)	(5,206)
Maturities and redemptions of:
Investment securities available-for-sale	57,288	51,129
Investment securities held-to-maturity	16,153	1,578
FHLB stock	41	737
Proceeds from sales of:
Foreclosed real estate and other repossessed assets, including write-offs	26,270	19,581
Premises and equipment	4,747	570
Origination and purchase of loans, excluding loans held-for-sale	(1,498,059)	(1,003,889)
Principal repayment of loans	1,212,135	1,093,923
Additions to premises and equipment	(17,380)	(9,633)
Net cash used in investing activities	(1,117,317)	(5,873)
Net increase (decrease) in:
Deposits	426,547	629,322
Subordinated capital notes	(36,041)	0
FHLB advances, federal funds purchased, and other borrowings	(889)	(2,397)
Exercise of stock options with treasury shares	(909)	282
Purchase of treasury stock	(64,110)	0
Redemption of preferred stock	0	(68,000)
Dividends paid on preferred stock	0	(1,255)
Dividends paid on common stock	(13,333)	(8,397)
Net cash provided by financing activities	311,265	549,555
Net change in cash, cash equivalents and restricted cash	(716,369)	612,116
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	1,307,281	2,767,693
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:
Cash and due from banks	1,302,199	2,756,288
Money market investments	4,913	11,206
Restricted cash	169	199
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,307,281	2,767,693
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:
Interest paid	11,758	17,210
Income taxes paid	3,740	880
Operating lease liabilities paid	5,031	5,976
Mortgage loans held-for-sale securitized into mortgage-backed securities	53,488	83,909
Transfer from loans to foreclosed real estate and other repossessed assets	19,693	20,637
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio	0	17,993
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio	18,000	4,178
Financed sales of foreclosed real estate	825	407
Delinquent loans booked under the GNMA buy-back option	$ 33,431	$ 28,118

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 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, OFG Reinsurance Ltd (“OFG Reinsurance”), a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), and OFG Ventures LLC (“OFG Ventures”), which holds certain equity 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, auto leasing and lending, financial planning, insurance sales, money management, investment banking and securities 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 (“2021 Form 10-K”). Operating results for six-month period ended June 30, 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. Recently Adopted Accounting Standards Updates 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. OFG was not impacted by the adoption of this ASU since it does not hold these instruments. Accounting Standards Updated Not Yet Adopted Fair Value Measurements—Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions Disclosures. In June 2022, the FASB issued ASU 2022-03 to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain disclosures for equity securities subject to contractual restrictions. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Entities are permitted to early adopt these amendments, including adoption in any interim period. The amendments should be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. Upon adoption of this ASU, OFG will consider this guidance for equity securities subject to contractual sale restrictions. 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 its presentation and disclosures upon adoption of this standard. For other recently issued Accounting Standards Updates not yet effective, refer to Note 1 to the Consolidated Financial Statements included in the 2021 Form 10-K.

RESTRICTED CASH

RESTRICTED CASH	6 Months Ended
RESTRICTED CASH	Jun. 30, 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 June 30, 2022 and December 31, 2021, OFG delivered as collateral cash amounting to approximately $169 thousand and $175 thousand, respectively. 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 June 30, 2022 was $488.3 million (December 31, 2021 - $456.5 million). At June 30, 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	6 Months Ended
INVESTMENT SECURITIES	Jun. 30, 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 June 30, 2022 and December 31, 2021, money market instruments included as part of cash and cash equivalents amounted to $4.9 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 June 30, 2022 and December 31, 2021 were as follows: June 30, 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 $ 1,759 $ — $ 31 $ 1,728 2.12 % Due from 5 to 10 years 76,908 — 2,005 74,903 1.95 % Due after 10 years 795,150 948 33,267 762,831 2.82 % Total FNMA and FHLMC certificates 873,817 948 35,303 839,462 2.74 % GNMA Securities Due from 1 to 5 years 15,130 — 431 14,699 1.63 % Due from 5 to 10 years 28,190 38 997 27,231 2.03 % Due after 10 years 268,591 616 22,780 246,427 2.52 % Total GNMA certificates 311,911 654 24,208 288,357 2.44 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 14,809 — 391 14,418 1.79 % Due from 5 to 10 years 3,223 — 79 3,144 1.82 % Due after 10 years 1,091 — 13 1,078 4.88 % Total CMOs issued by US government-sponsored agencies 19,123 — 483 18,640 1.97 % Total mortgage-backed securities 1,204,851 1,602 59,994 1,146,459 2.64 % Investment securities US Treasury securities Due less than 1 year 10,734 — 1 10,733 1.53 % Other debt securities Due less than 1 year 500 — — 500 0.57 % Due from 1 to 5 years 1,798 81 1 1,878 5.50 % Total other debt securities 2,298 81 1 2,378 4.43 % Total investment securities 13,032 81 2 13,111 2.04 % Total securities available for sale $ 1,217,883 $ 1,683 $ 59,996 $ 1,159,570 2.64 % June 30, 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 $ 351,016 $ — $ 47,628 $ 303,388 1.70 % Investment securities US Treasury securities Due from 1 to 5 years 196,816 1,543 — 198,359 3.36 % Total securities held-to-maturity $ 547,832 $ 1,543 $ 47,628 $ 501,747 2.30 % 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 % Obligations of US government-sponsored agencies Due less than 1 year 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 June 30, 2022 include $231.8 million pledged to secure government deposits, derivatives and regulatory collateral that the secured parties are not permitted to sell or repledge, of which $231.3 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, 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 June 30, 2022 and December 31, 2021, most securities held by OFG are issued by U.S. government entities and government-sponsored agencies that have a zero-credit loss assumption. At both June 30, 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 six-month periods ended June 30, 2022 and 2021, OFG retained securitized GNMA pools totaling $53.5 million and $84.0 million amortized cost, respectively, at a yield of 3.11% and 2.66%, respectively, from its own originations. There were no sales of securities during the six-month periods ended June 30, 2022 and 2021. The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at June 30, 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: June 30, 2022 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 89,333 $ 15,279 $ 74,054 GNMA certificates 499 73 426 $ 89,832 $ 15,352 $ 74,480 June 30, 2022 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies $ 19,123 $ 483 $ 18,640 FNMA and FHLMC certificates 664,722 20,024 644,698 GNMA certificates 282,987 24,135 258,852 US Treasury securities 734 1 733 Other debt securities 298 1 297 967,864 44,644 923,220 Held-to-maturity FNMA and FHLMC certificates $ 351,016 $ 47,628 $ 303,388 June 30, 2022 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies $ 19,123 $ 483 $ 18,640 FNMA and FHLMC certificates 754,055 35,303 718,752 GNMA certificates 283,486 24,208 259,278 US Treasury Securities 734 1 733 Other debt securities 298 1 297 1,057,696 59,996 997,700 Held-to-maturity FNMA and FHLMC certificates $ 351,016 $ 47,628 $ 303,388 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	6 Months Ended
LOANS	Jun. 30, 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 June 30, 2022 and December 31, 2021 was as follows: June 30, 2022 December 31, 2021 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial loans: Commercial secured by real estate $ 932,165 $ 147,362 $ 1,079,527 $ 883,994 $ 176,186 $ 1,060,180 Other commercial and industrial 832,309 26,920 859,229 759,172 28,149 787,321 Other commercial and industrial - Paycheck Protection Program (PPP Loans) 33,304 — 33,304 86,889 — 86,889 US commercial loans 623,807 — 623,807 444,940 — 444,940 2,421,585 174,282 2,595,867 2,174,995 204,335 2,379,330 Mortgage 708,755 1,099,097 1,807,852 718,848 1,188,423 1,907,271 Consumer: Personal loans 440,419 402 440,821 346,859 546 347,405 Credit lines 13,597 296 13,893 14,775 370 15,145 Credit cards 44,074 — 44,074 46,795 — 46,795 Overdraft 314 — 314 330 — 330 498,404 698 499,102 408,759 916 409,675 Auto and leasing 1,791,052 8,788 1,799,840 1,693,029 13,281 1,706,310 5,419,796 1,282,865 6,702,661 4,995,631 1,406,955 6,402,586 Allowance for credit losses (143,896) (15,143) (159,039) (132,065) (23,872) (155,937) Total loans held for investment, net 5,275,900 1,267,722 6,543,622 4,863,566 1,383,083 6,246,649 Mortgage loans held for sale 26,947 — 26,947 51,096 — 51,096 Other loans held for sale 14,641 — 14,641 31,566 — 31,566 Total loans held for sale 41,588 — 41,588 82,662 — 82,662 Total loans, net $ 5,317,488 $ 1,267,722 $ 6,585,210 $ 4,946,228 $ 1,383,083 $ 6,329,311 During the six-month period ended June 30, 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 June 30, 2022 and December 31, 2021, OFG had carrying balances of $86.3 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 $86.3 million and $86.2 million at June 30, 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 purchased credit-deteriorated (“PCD”) loan granted to a public corporation classified as non-accrual, which was repaid during the six-month period ended June 30, 2022. The tables below present the aging of the amortized cost of loans held for investment at June 30, 2022 and December 31, 2021, by class of loans. Mortgage loans past due include $33.4 million and $14.5 million of delinquent loans in the GNMA buy-back option program at June 30, 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. June 30, 2022 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial Commercial secured by real estate $ 1,529 $ 2,903 $ 6,502 $ 10,934 $ 921,231 $ 932,165 $ — Other commercial and industrial 1,481 88 741 2,310 863,303 865,613 — US commercial loans — — — — 623,807 623,807 — 3,010 2,991 7,243 13,244 2,408,341 2,421,585 — Mortgage 6,995 6,942 55,669 69,606 639,149 708,755 1,301 Consumer Personal loans 4,279 1,951 1,207 7,437 432,982 440,419 — Credit lines 261 150 164 575 13,022 13,597 — Credit cards 702 362 604 1,668 42,406 44,074 — Overdraft 57 — — 57 257 314 — 5,299 2,463 1,975 9,737 488,667 498,404 — Auto and leasing 63,599 27,808 15,230 106,637 1,684,415 1,791,052 — Total loans $ 78,903 $ 40,204 $ 80,117 $ 199,224 $ 5,220,572 $ 5,419,796 $ 1,301 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 the current expected credit losses (“CECL”) methodology, 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 June 30, 2022 and December 31, 2021: June 30, 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 $ 17,088 $ 18,134 $ 35,222 $ 16,299 $ 19,538 $ 35,837 Other commercial and industrial 2,698 294 2,992 1,284 483 1,767 US commercial loans 8,992 — 8,992 — — — 28,778 18,428 47,206 17,583 20,021 37,604 Mortgage 14,062 9,319 23,381 16,428 12,840 29,268 Consumer Personal loans 882 338 1,220 1,143 302 1,445 Personal lines of credit 164 — 164 226 — 226 Credit cards 603 — 603 632 — 632 1,649 338 1,987 2,001 302 2,303 Auto and leasing 15,328 1 15,329 19,827 2 19,829 Total $ 59,817 $ 28,086 $ 87,903 $ 55,839 $ 33,165 $ 89,004 PCD: Commercial Commercial secured by real estate $ 3,406 $ 6,611 $ 10,017 $ 5,205 $ 6,198 $ 11,403 Other commercial and industrial — 40 40 1,102 40 1,142 3,406 6,651 10,057 6,307 6,238 12,545 Mortgage 261 — 261 334 — 334 Total $ 3,667 $ 6,651 $ 10,318 $ 6,641 $ 6,238 $ 12,879 Total non-accrual loans $ 63,484 $ 34,737 $ 98,221 $ 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 Federal Housing Administration (“FHA”) and United States Department of Veterans Affairs (“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 June 30, 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 $150.0 million and $125.9 million, respectively, as they were performing under their modified 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 $2.7 million and $3.7 million at June 30, 2022 and December 31, 2021, respectively. The following table presents the troubled-debt restructurings in all loan portfolios as of June 30, 2022 and December 31, 2021. June 30, 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 $ 30,987 $ 14,033 $ 45,020 $ 273 $ 10,981 $ 14,444 $ 25,425 $ 202 Other commercial and industrial 2,532 403 2,935 54 2,785 473 3,258 41 US commercial loans 7,203 — 7,203 197 7,156 — 7,156 126 40,722 14,436 55,158 524 20,922 14,917 35,839 369 Mortgage 106,658 8,981 115,639 3,106 101,487 9,475 110,962 3,867 Consumer: Personal loans 2,519 13 2,532 122 3,275 139 3,414 159 Auto and leasing 97 1 98 4 203 8 211 11 Total loans $ 149,996 $ 23,431 $ 173,427 $ 3,756 $ 125,887 $ 24,539 $ 150,426 $ 4,406 The following tables present the troubled-debt restructurings by loan portfolios and modification type as of June 30, 2022 and December 31, 2021 : June 30, 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 $ 8,093 $ 25,777 $ 7,947 $ 3,203 $ 45,020 Other commercial and industrial 818 1,600 493 24 2,935 US commercial loans 7,203 — — — 7,203 16,114 27,377 8,440 3,227 55,158 Mortgage 36,793 7,747 37,519 33,580 115,639 Consumer: Personal loans 1,088 204 1,126 114 2,532 Auto and leasing 44 — 25 29 98 Total loans $ 54,039 $ 35,328 $ 47,110 $ 36,950 $ 173,427 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 June 30, 2022, there were $9.7 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 FHA and VA insured mortgage loans. At June 30, 2022 and December 31, 2021, TDR mortgage loans include $47.7 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 and six-month periods ended June 30, 2022 and 2021 were as follows: Quarter Ended June 30, 2022 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 36 $ 4,333 4.58 % 267 $ 4,608 3.68 % 344 Commercial 2 37,808 3.51 % 133 37,808 3.61 % 187 Consumer 1 9 20.95 % 72 9 10.95 % 72 Six-Month Period Ended June 30, 2022 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 72 $ 9,033 4.55 % 270 $ 9,471 3.57 % 343 Commercial 4 38,703 3.56 % 131 38,560 3.63 % 184 Consumer 2 22 19.27 % 79 22 10.95 % 79 Quarter Ended June 30, 2021 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 44 5,104 4.24 % 303 4,880 3.59 % 349 Commercial 1 991 4.25 % 175 880 5.75 % 60 Consumer 7 139 12.76 % 72 139 9.47 % 76 Auto and leasing 3 44 13.15 % 78 44 10.15 % 73 Six-Month Period Ended June 30, 2021 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 70 $ 8,661 4.14 % 302 $ 8,460 3.60 % 342 Commercial 3 1,176 4.72 % 157 1,085 5.95 % 60 Consumer 9 155 12.65 % 70 156 9.52 % 75 Auto and leasing 8 126 9.04 % 70 126 9.93 % 49 The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month periods ended June 30, 2022 and 2021: Twelve-Month Period Ended June 30, 2022 2021 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 7 $ 800 19 $ 2,191 Consumer 3 $ 47 1 $ 14 Auto and leasing — $ — 11 $ 64 As of June 30, 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 presents the amortized cost of collateral-dependent loans held for investment at June 30, 2022 and December 31, 2021, by class of loans. June 30, 2022 December 31, 2021 (In thousands) Commercial loans: Commercial secured by real estate $ 21,565 $ 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 debts, 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 June 30, 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 $ 136,168 $ 181,469 $ 121,765 $ 111,269 $ 67,813 $ 186,450 $ 42,048 $ 846,982 Special Mention — — 608 31,749 4,353 7,463 685 44,858 Substandard — 8,689 10,080 167 511 16,643 3,694 39,784 Doubtful — — — — — 18 523 541 Loss — — — — — — — — Total commercial secured by real estate 136,168 190,158 132,453 143,185 72,677 210,574 46,950 932,165 Other commercial and industrial: Loan grade: Pass 57,167 224,278 81,381 39,130 58,787 14,136 382,607 857,486 Special Mention — 9 29 680 1,954 — 2,217 4,889 Substandard 126 57 175 196 503 120 2,015 3,192 Doubtful — — — — — — 46 46 Loss — — — — — — — — Total other commercial and industrial: 57,293 224,344 81,585 40,006 61,244 14,256 386,885 865,613 US commercial loans: Loan grade: Pass 54,361 85,534 57,794 37,559 52,194 — 314,371 601,813 Special Mention — — — — 4,912 — — 4,912 Substandard 887 — 7,203 1,538 2,958 — — 12,586 Doubtful — — — — 4,496 — — 4,496 Loss — — — — — — — — Total US commercial loans: 55,248 85,534 64,997 39,097 64,560 — 314,371 623,807 Total commercial loans $ 248,709 $ 500,036 $ 279,035 $ 222,288 $ 198,481 $ 224,830 $ 748,206 $ 2,421,585 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 June 30, 2022 and December 31, 2021, the balance of revolving loans converted to term loans was $70.1 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 June 30, 2022: Term Loans Revolving Revolving Loans Total 2022 2021 2020 2019 2018 Prior (In thousands) Mortgage: Payment performance: Performing $ 10,017 $ 26,538 $ 16,966 $ 15,111 $ 17,007 $ 589,770 $ — $ — $ 675,409 Nonperforming — — 123 858 462 31,903 — — 33,346 Total mortgage loans: 10,017 26,538 17,089 15,969 17,469 621,673 — — 708,755 Consumer: Personal loans: Payment performance: Performing 180,716 142,304 40,917 45,414 19,418 10,430 — — 439,199 Nonperforming 33 295 162 194 168 368 — — 1,220 Total personal loans 180,749 142,599 41,079 45,608 19,586 10,798 — — 440,419 Credit lines: Payment performance: Performing — — — — — — 13,433 — 13,433 Nonperforming — — — — — — 164 — 164 Total credit lines — — — — — — 13,597 — 13,597 Credit cards: Payment performance: Performing — — — — — — 43,471 — 43,471 Nonperforming — — — — — — 603 — 603 Total credit cards — — — — — — 44,074 — 44,074 Overdrafts: Payment performance: Performing — — — — — — 314 — 314 Nonperforming — — — — — — — — — Total overdrafts — — — — — — 314 — 314 Total consumer loans 180,749 142,599 41,079 45,608 19,586 10,798 57,985 — 498,404 Total mortgage and consumer loans $ 190,766 $ 169,137 $ 58,168 $ 61,577 $ 37,055 $ 632,471 $ 57,985 $ — $ 1,207,159 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 June 30, 2022: Term Loans Total 2022 2021 2020 2019 2018 Prior (In thousands) Auto and leasing: FICO score: 1-660 78,283 149,018 76,504 66,065 52,072 43,198 465,140 661-699 76,782 124,169 53,105 36,849 27,029 19,624 337,558 700+ 164,107 247,689 163,079 159,093 109,330 71,625 914,923 No FICO 13,379 20,182 11,555 14,032 8,201 6,082 73,431 Total auto and leasing: $ 332,551 $ 541,058 $ 304,243 $ 276,039 $ 196,632 $ 140,529 $ 1,791,052 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	6 Months Ended
ALLOWANCE FOR CREDIT LOSSES	Jun. 30, 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 June 30, 2022, OFG used an economic probability weighted scenario approach consisting of the baseline and moderate recession scenarios, giving more weight to the baseline scenario. Except for the US loan segment that was updated to the same level of probability in both economic scenarios. In addition, the ACL at June 30, 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, which will put more pressure on inflation due to its disruption of oil, natural gas and other commodity markets. As of June 30, 2022, the allowance for credit losses increased by $3.1 million when compared to December 31, 2021. The provision for credit losses for the six-month period ended June 30, 2022 reflected a provision of $9.1 million related to the growth in loan balances and a provision of $9.5 million related to commercial-specific loan reserves due to certain commercial loans placed in non-accrual status, offset by a $9.6 million release associated with qualitative adjustment due to improvement in the performance of the portfolios and in Puerto Rico’s labor market. The net charge-offs for the six-month period ended June 30, 2022, amounted to $5.1 million, a decrease of $6.1 million compared to the same period of 2021. The decrease is mainly due to a reduction of $7.0 million in mortgage loans and $1.5 million in consumer loans, offset by an increase of $1.3 million in auto loans and leases, and $1.1 million in commercial loans. The following tables present the activity in OFG’s allowance for credit losses by segment for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 37,097 $ 14,952 $ 21,100 $ 64,195 $ 137,344 Provision for (recapture of) credit losses 7,368 (3,122) 4,521 3,535 12,302 Charge-offs (2,907) (259) (3,307) (6,428) (12,901) Recoveries 456 335 795 5,565 7,151 Balance at end of period $ 42,014 $ 11,906 $ 23,109 $ 66,867 $ 143,896 PCD: Balance at beginning of period $ 3,622 $ 15,881 $ 31 $ 197 $ 19,731 Recapture of provision for credit losses (1,444) (4,183) (16) (152) (5,795) Charge-offs — (183) (8) (75) (266) Recoveries 249 1,026 13 185 1,473 Balance at end of period $ 2,427 $ 12,541 $ 20 $ 155 $ 15,143 Total allowance for credit losses at end of period $ 44,441 $ 24,447 $ 23,129 $ 67,022 $ 159,039 Six-Month Period Ended June 30, 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 12,555 (5,540) 8,484 5,366 20,865 Charge-offs (3,451) (262) (5,966) (14,318) (23,997) Recoveries 648 2,409 1,450 10,456 14,963 Balance at end of period $ 42,014 $ 11,906 $ 23,109 $ 66,867 $ 143,896 PCD: Balance at beginning of period $ 4,508 $ 19,018 $ 34 $ 312 $ 23,872 Recapture of provision for credit losses (5,319) (7,031) (3) (290) (12,643) Charge-offs (34) (1,317) (47) (189) (1,587) Recoveries 3,272 1,871 36 322 5,501 Balance at end of period $ 2,427 $ 12,541 $ 20 $ 155 $ 15,143 Total allowance for credit losses at end of period $ 44,441 $ 24,447 $ 23,129 $ 67,022 $ 159,039 Total commercial charge-offs for the quarter and six-month period ended June 30, 2022 includes a $2.5 million charge-off from a previously reserved commercial loan sold during the quarter ended June 30, 2022. Total recoveries for the six-month period ended June 30, 2022 includes a $2.8 million recovery from a Puerto Rico government public corporation PCD commercial loan repaid during the first quarter of 2022 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 June 30, 2021 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 47,683 $ 17,035 $ 21,191 $ 71,069 $ 156,978 (Recapture of) provision for credit losses (4,503) (592) 74 (2,538) (7,559) Charge-offs (653) (268) (2,897) (5,170) (8,988) Recoveries 996 193 697 5,997 7,883 Balance at end of period $ 43,523 $ 16,368 $ 19,065 $ 69,358 $ 148,314 PCD: Balance at beginning of period $ 14,306 $ 29,939 $ 52 $ 698 $ 44,995 (Recapture of) provision for credit losses (1,974) 1,727 (47) (285) (579) Charge-offs (6) (1,742) — (226) (1,974) Recoveries 430 184 33 314 961 Balance at end of period $ 12,756 $ 30,108 $ 38 $ 501 $ 43,403 Total allowance for credit losses at end of period $ 56,279 $ 46,476 $ 19,103 $ 69,859 $ 191,717 Six-Month Period Ended June 30, 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 (Recapture of) provision for credit losses (2,961) (3,071) (85) 1,501 (4,616) Charge-offs (720) (1,056) (7,366) (14,253) (23,395) Recoveries 1,425 808 1,263 11,814 15,310 Balance at end of period $ 43,523 $ 16,368 $ 19,065 $ 69,358 $ 148,314 PCD: Balance at beginning of period $ 16,405 $ 26,389 $ 57 $ 943 $ 43,794 (Recapture of) provision for credit losses (4,466) 7,721 (52) (457) 2,746 Charge-offs (50) (4,332) (22) (682) (5,086) Recoveries 867 330 55 697 1,949 Balance at end of period $ 12,756 $ 30,108 $ 38 $ 501 $ 43,403 Total allowance for credit losses at end of period $ 56,279 $ 46,476 $ 19,103 $ 69,859 $ 191,717

FORECLOSED REAL ESTATE

FORECLOSED REAL ESTATE	6 Months Ended
FORECLOSED REAL ESTATE	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Balance at beginning of period $ 15,297 $ 15,598 $ 15,039 $ 11,596 Additions 2,549 2,907 5,729 9,544 Sales (4,140) (3,098) (7,947) (5,521) Decline in value (219) (671) (414) (760) Other adjustments 1,574 357 2,654 234 Balance at end of period $ 15,061 $ 15,093 $ 15,061 $ 15,093

SERVICING ASSETS

SERVICING ASSETS	6 Months Ended
SERVICING ASSETS	Jun. 30, 2022
Transfers and Servicing [Abstract]
SERVICING ASSETS	SERVICING ASSETS At June 30, 2022, the fair value of mortgage servicing rights was $49.3 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Fair value at beginning of period $ 49,446 $ 47,911 $ 48,973 $ 47,295 Servicing from mortgage securitization or asset transfers 1,150 2,023 2,269 3,443 Changes due to payments on loans (1,478) (1,862) (2,977) (3,369) Changes in fair value due to changes in valuation model inputs or assumptions 162 (360) 1,015 343 Fair value at end of period $ 49,280 $ 47,712 $ 49,280 $ 47,712 The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value for the six-month periods ended June 30, 2022 and 2021: Six-Month Period Ended June 30, 2022 2021 Constant prepayment rate 3.60% - 22.71% 4.82% - 25.64% 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: June 30, 2022 December 31, 2021 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 49,280 $ 48,973 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (951) $ (1,020) Decrease in fair value due to 20% adverse change $ (1,872) $ (2,004) Discount rate Decrease in fair value due to 10% adverse change $ (2,221) $ (2,175) Decrease in fair value due to 20% adverse change $ (4,270) $ (4,183) 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 June 30, 2022 and 2021 totaled $5.2 million and $5.3 million, respectively. Servicing fees on mortgage loans for the six-month periods ended June 30, 2022 and 2021 totaled $10.2 million and $10.5 million, respectively.

DERIVATIVES

DERIVATIVES	6 Months Ended
DERIVATIVES	Jun. 30, 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 June 30, 2022 and December 31, 2021, the notional amount of derivative contracts outstanding was $27.6 million and $28.5 million respectively. The gross fair value of derivative asset was $187 thousand and $1 thousand, respectively, and the gross fair value of derivatives liabilities was $21 thousand and $804 thousand, respectively. The impact of master netting agreements was not material. As of June 30, 2022 and December 31, 2021, derivative and hedging activities were not material.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS As of June 30, 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 as of June 30, 2022 and December 31, 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 events that caused OFG to perform interim testing during the six-month period ended June 30, 2022. The following table reflects the components of other intangible assets subject to amortization at June 30, 2022 and December 31, 2021: Gross Accumulated Net (In thousands) June 30, 2022 Core deposit intangibles $ 51,402 $ 27,048 $ 24,354 Customer relationship intangibles 17,753 10,354 7,399 Other intangibles 567 520 47 Total other intangible assets $ 69,722 $ 37,922 $ 31,800 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 June 30, 2022 and 2021 was $2.2 million and $2.5 million, respectively. Amortization of other intangible assets for the six-month periods ended June 30, 2022 and 2021 was $4.3 million and $4.9 million, respectively. 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 AND

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	6 Months Ended
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	Jun. 30, 2022
Accrued Interest Receivable and Other Assets [Abstract]
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS Accrued interest receivable at June 30, 2022 and December 31, 2021 consists of the following: June 30, December 31, 2022 2021 (In thousands) Loans $ 54,279 $ 54,794 Investments 4,092 1,766 $ 58,371 $ 56,560 Accrued interest receivable on loans that participated in the Covid-19 deferral programs amounted to $22.8 million at June 30, 2022 (December 31, 2021 - $23.9 million), of which $21.7 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 June 30, 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 $416 thousand and $161 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition. Other assets at June 30, 2022 and December 31, 2021 consist of the following: June 30, December 31, 2022 2021 (In thousands) Prepaid expenses $ 65,696 $ 61,061 Other repossessed assets 2,533 1,945 Investment in Statutory Trust — 1,083 Accounts receivable and other assets 86,412 88,756 $ 154,641 $ 152,845 Prepaid expenses amounting to $65.7 million at June 30, 2022, include prepaid municipal, property and income taxes aggregating to $60.5 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 $2.5 million and $1.9 million at June 30, 2022 and December 31, 2021, respectively, and consist mainly of repossessed automobiles, which are recorded at their net realizable value.

DEPOSITS AND RELATED INTEREST

DEPOSITS AND RELATED INTEREST	6 Months Ended
DEPOSITS AND RELATED INTEREST	Jun. 30, 2022
Deposits and Related Interest [Abstract]
DEPOSITS AND RELATED INTEREST	DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of June 30, 2022 and December 31, 2021 consist of the following: June 30, December 31, 2022 2021 (In thousands) Non-interest bearing demand deposits $ 2,707,504 $ 2,501,644 Interest-bearing savings and demand deposits 5,185,419 4,880,476 Retail certificates of deposit 928,178 1,007,577 Institutional certificates of deposit 197,098 202,050 Total core deposits 9,018,199 8,591,747 Brokered deposits 11,371 11,371 Total deposits $ 9,029,570 $ 8,603,118 At June 30, 2022 and December 31, 2021, the aggregate amount of uninsured deposits was $3.753 billion and $3.270 billion, respectively. The weighted average interest rate of OFG’s deposits was 0.34% and 0.49%, respectively, at June 30, 2022 and December 31, 2021. Interest expense for the quarters and six-month periods ended June 30, 2022 and 2021 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Demand and savings deposits $ 5,101 $ 6,209 $ 10,077 $ 12,580 Certificates of deposit 1,843 4,251 3,908 9,904 $ 6,944 $ 10,460 $ 13,985 $ 22,484 At June 30, 2022 and December 31, 2021, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $329.5 million and $360.8 million, respectively. At June 30, 2022 and December 31, 2021, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $239.9 million and $183.8 million, respectively. These public funds were collateralized with commercial loans and securities amounting to $316.4 million and $228.9 million at June 30, 2022 and December 31, 2021, respectively. Excluding accrued interest of approximately $580 thousand and $736 thousand, the scheduled maturities of certificates of deposit at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 242,135 $ 34,571 Over 3 months through 6 months 110,671 19,968 Over 6 months through 1 year 310,192 47,591 662,998 102,130 Over 1 through 2 years 239,730 36,483 Over 2 through 3 years 111,306 16,166 Over 3 through 4 years 79,182 23,596 Over 4 through 5 years 41,822 3,149 Over 5 years 1,029 — $ 1,136,067 $ 181,524 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 $605 thousand and $491 thousand as of June 30, 2022 and December 31, 2021, respectively.

BORROWINGS AND RELATED INTEREST

BORROWINGS AND RELATED INTEREST	6 Months Ended
BORROWINGS AND RELATED INTEREST	Jun. 30, 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 Federal Home Loan Bank of New York (“FHLB”) 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 June 30, 2022 and December 31, 2021, these advances were secured by mortgage and commercial loans amounting to $879.8 million and $949.0 million, respectively. Also, at June 30, 2022 and December 31, 2021, OFG had an additional borrowing capacity with the FHLB of $605.6 million and $697.3 million, respectively. At June 30, 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 June 30, 2022 is 1 month. The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $28 thousand and $8 thousand at June 30, 2022 and December 31, 2021, respectively: June 30, December 31, 2022 2021 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 1.21% (December 31, 2021 - 0.35%) $ 27,558 $ 28,480 Advances from FHLB mature as follows: June 30, December 31, 2022 2021 (In thousands) Under 90 days $ 27,558 $ 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. Following the redemption of the subordinated capital notes, the Statutory Trust II was dissolved.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Oriental is subject to the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended (the “PR Code”). The PR Code imposes a maximum statutory corporate tax rate of 37.5%. OFG has operations in the U.S. through its wholly owned subsidiaries OPC, OFG Ventures, and OFG USA LLC, which is a direct subsidiary of the Bank, and has two branches in the USVI. The United States subsidiaries are subject to federal income taxes at the corporate level, while the USVI branches are subject to 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 June 30, 2022 and December 31, 2021, OFG’s net deferred tax asset, net of a valuation allowance of $10.4 million and $9.6 million, respectively, amounted to $76.1 million and $99.1 million, respectively. The increase in valuation allowance of $731 thousand was mainly related to OFG’s operations at the holding company level. 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 June 30, 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 (“ETR”) lower than the statutory rate for the six-month periods ended June 30, 2022 and 2021 of 31.3% and 32.0%, respectively; mainly related to an increase in U.S. Treasury bills and other exempt investments and a discrete tax windfall on stock options recognized during the first six-months of 2022. The expected ETR for 2022 is 31.9%. OFG classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the ETR if realized. At June 30, 2022, the amount of unrecognized tax benefits was $832 thousand (December 31, 2021 - $798 thousand). Income tax expense for the quarters ended June 30, 2022 and 2021 was $18.9 million and $19.3 million, respectively. Income tax expense for the six-month periods ended June 30, 2022 and 2021, was $35.5 million and $33.5 million, respectively.

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	6 Months Ended
REGULATORY CAPITAL REQUIREMENTS	Jun. 30, 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. As of June 30, 2022 and December 31, 2021, OFG and the Bank met all capital adequacy requirements to which they are subject. As of June 30, 2022 and December 31, 2021, OFG and the Bank are “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized,” an institution must maintain minimum CET1 risk-based, Tier 1 risk-based, total risk-based, and Tier 1 leverage ratios as set forth in the tables presented below. OFG’s and the Bank’s actual capital amounts and ratios as of June 30, 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 June 30, 2022 Total capital to risk-weighted assets $ 1,053,766 14.05 % $ 787,413 10.50 % $ 749,917 10.00 % Tier 1 capital to risk-weighted assets $ 960,015 12.80 % $ 637,430 8.50 % $ 599,934 8.00 % Common equity tier 1 capital to risk-weighted assets $ 960,015 12.80 % $ 524,942 7.00 % $ 487,446 6.50 % Tier 1 capital to average total assets $ 960,015 9.46 % $ 405,805 4.00 % $ 507,257 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 June 30, 2022 Total capital to risk-weighted assets $ 999,970 13.41 % $ 782,992 10.50 % $ 745,707 10.00 % Tier 1 capital to risk-weighted assets $ 906,739 12.16 % $ 633,851 8.50 % $ 596,565 8.00 % Common equity tier 1 capital to risk-weighted assets $ 906,739 12.16 % $ 521,995 7.00 % $ 484,709 6.50 % Tier 1 capital to average total assets $ 906,739 8.98 % $ 403,697 4.00 % $ 504,621 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	6 Months Ended
STOCKHOLDERS’ EQUITY	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Preferred Stock and Common Stock During the six-month period ended June 30, 2021, OFG redeemed all of its outstanding $68.0 million (in the aggregate) Series A and Series B preferred stock at a redemption price of $25.00 per share. Subsequently, in July 2021, OFG redeemed all of its outstanding $24.0 million 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 June 30, 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 June 30, 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 June 30, 2022 and December 31, 2021, the Bank’s legal surplus amounted to $125.4 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 six-month period ended June 30, 2022, OFG repurchased 2,351,868 shares for a total of $64.1 million at an average price of $27.04 per share. OFG did not repurchase any shares of its common stock during the six-month period ended June 30, 2022, other than through its publicly announced stock repurchase program. During the six-month period ended June 30, 2021, OFG did not repurchase any shares. At June 30, 2022 the number of shares that may yet be purchased under the $100 million program is estimated at 1,412,984 and was calculated by dividing the remaining balance of $35.9 million by $25.40 (closing price of OFG’s common stock at June 30, 2022). The activity in connection with common shares held in treasury by OFG for the six-month periods ended June 30, 2022 and 2021 is set forth below: Six-Month Period Ended June 30, 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 (269,239) (3,544) (273,436) (2,230) Common shares repurchased as part of the stock repurchase programs 2,351,868 64,110 — — End of period 12,331,511 $ 211,138 8,224,727 $ 100,719

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	6 Months Ended
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	Jun. 30, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive (loss) income, net of income taxes, as of June 30, 2022 and December 31, 2021 consisted of: June 30, December 31, 2022 2021 (In thousands) Unrealized (loss) gain on securities available-for-sale which are not $ (58,313) $ 7,292 Income tax effect of unrealized loss (gain) on securities available-for-sale 8,707 (1,629) Net unrealized (loss) gain on securities available-for-sale which are not (49,606) 5,663 Unrealized gain (loss) on cash flow hedges 165 (804) Income tax effect of unrealized gain (loss) on cash flow hedges (61) 301 Net unrealized gain (loss) on cash flow hedges 104 (503) Accumulated other comprehensive (loss) income, net of income taxes $ (49,502) $ 5,160 The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (20,522) $ (116) $ (20,638) Other comprehensive (loss) income before reclassifications (29,086) 36 (29,050) Amounts reclassified out of accumulated other comprehensive (loss) income 2 184 186 Other comprehensive (loss) income (29,084) 220 (28,864) Ending balance $ (49,606) $ 104 $ (49,502) Six-Month Period Ended June 30, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 5,663 $ (503) $ 5,160 Other comprehensive (loss) income before reclassifications (55,273) 230 (55,043) Amounts reclassified out of accumulated other comprehensive (loss) income 4 377 381 Other comprehensive (loss) income (55,269) 607 (54,662) Ending balance $ (49,606) $ 104 $ (49,502) Quarter Ended June 30, 2021 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 7,145 $ (915) $ 6,230 Other comprehensive income (loss) before reclassifications 1,262 (345) 917 Amounts reclassified out of accumulated other comprehensive income 1 452 453 Other comprehensive income 1,263 107 1,370 Ending balance $ 8,408 $ (808) $ 7,600 Six-Month Period Ended June 30, 2021 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 12,092 $ (1,070) $ 11,022 Other comprehensive (loss) income before reclassifications (3,687) (649) (4,336) Amounts reclassified out of accumulated other comprehensive income 3 911 914 Other comprehensive (loss) income (3,684) 262 (3,422) Ending balance $ 8,408 $ (808) $ 7,600 The following table presents reclassifications out of accumulated other comprehensive (loss) income for the quarters and six-month periods ended June 30, 2022 and 2021: Amount reclassified out of accumulated other comprehensive (loss) income quarter ended June 30, Affected Line Item in 2022 2021 (In thousands) Cash flow hedges: Interest-rate contracts $ 184 $ 452 Net interest expense Available-for-sale securities: Tax effect from changes in tax rates 2 1 Income tax expense $ 186 $ 453 Amount reclassified out of accumulated other comprehensive (loss) income six-month period ended June 30, Affected Line Item in 2022 2021 (In thousands) Cash flow hedges: Interest-rate contracts $ 377 $ 911 Net interest expense Available-for-sale securities: Tax effect from changes in tax rates 4 3 Income tax expense $ 381 $ 914

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
EARNINGS PER COMMON SHARE	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The calculation of earnings per common share for the quarters and six-month periods ended June 30, 2022 and 2021 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands, except per share data) Net income $ 40,432 $ 40,827 $ 77,953 $ 71,200 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) — — — (1,255) Income available to common shareholders $ 40,432 $ 40,827 $ 77,953 $ 69,945 Average common shares outstanding 48,053 51,636 48,508 51,517 Effect of dilutive securities: Average potential common shares-options 336 412 425 368 Total weighted average common shares outstanding and equivalents 48,389 52,048 48,933 51,885 Earnings per common share - basic $ 0.84 $ 0.79 $ 1.61 $ 1.36 Earnings per common share - diluted $ 0.84 $ 0.78 $ 1.59 $ 1.35 For the quarters ended June 30, 2022 and 2021, OFG weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 1,292 and 1,514, respectively. For the six-month periods ended June 30, 2022 and 2021, weighted-average stock options with an anti-dilutive effect on earnings per share not included in the calculation amounted to 1,138 and zero, respectively. During the first quarter of 2022, OFG increased its quarterly common stock cash dividend to $0.15 per share.

GUARANTEES

GUARANTEES	6 Months Ended
GUARANTEES	Jun. 30, 2022
Guarantees [Abstract]
GUARANTEES	GUARANTEES At June 30, 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 $28.7 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 June 30, 2022 and December 31, 2021, the unpaid principal balance of residential mortgage loans sold subject to credit recourse was $115.6 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Balance at beginning of period $ 294 $ 195 $ 205 $ 218 Net recoveries (charge-offs/terminations) (120) 10 (31) (13) Balance at end of period $ 174 $ 205 $ 174 $ 205 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 June 30, 2022 and 2021, OFG repurchased $711 thousand and $887 thousand, respectively, in mortgage loans subject to the credit recourse provisions referred above. During the six-month periods ended June 30, 2022 and 2021, OFG repurchased $1.4 million and $1.9 million, respectively, in such mortgage loans. 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 June 30, 2022, OFG’s liability for estimated credit losses related to loans sold with credit recourse amounted to $174 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 June 30, 2022, OFG repurchased $7.5 million (June 30, 2021 – $9.9 million) of unpaid principal balance in mortgage loans, excluding mortgage loans subject to the credit recourse provisions referred above. During the six-month period ended June 30, 2022, Oriental repurchased $15.3 million (June 30, 2021 – $22.5 million) of unpaid principal balance in mortgage loans, excluding mortgage loans subject to such credit recourse provision. At June 30, 2022 and December 31, 2021, OFG had a $1.9 million and a $3.4 million liability, respectively, for the estimated credit losses related to these loans. During the quarters ended June 30, 2022 and 2021, OFG recognized $21 thousand in gains and $90 thousand in losses, net of reserves, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $53 thousand and $1.4 million in losses, respectively, from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. During the six-month periods ended June 30, 2022 and 2021, Oriental recognized $121 thousand in gains and $68 thousand in losses, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $51 thousand and $2.8 million, respectively, in losses from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. At June 30, 2022, OFG serviced $5.7 billion (December 31, 2021 - $5.7 billion) in mortgage loans for third parties. Servicing agreements relating to the mortgage-backed securities programs of FNMA and GNMA, and to mortgage loans sold or serviced to certain other investors, including the FHLMC, require OFG to advance funds to make scheduled payments of principal, interest, taxes and insurance, if such payments have not been received from the borrowers. OFG generally recovers funds advanced pursuant to these arrangements from the mortgage owner, from liquidation proceeds when the mortgage loan is foreclosed or, in the case of FHA/VA loans, under the applicable FHA and VA insurance and guarantees programs. However, in the meantime, OFG must absorb the cost of the funds it advances during the time the advance is outstanding. OFG must also bear the costs of attempting to collect on delinquent and defaulted mortgage loans. In addition, if a defaulted loan is not cured, the mortgage loan would be canceled as part of the foreclosure proceedings and OFG would not receive any future servicing income with respect to that loan. At June 30, 2022, the outstanding balance of funds advanced by OFG under such mortgage loan servicing agreements was approximately $11.5 million (December 31, 2021 - $12.9 million). To the extent the mortgage loans underlying OFG’s servicing portfolio experience increased delinquencies, OFG would be required to dedicate additional cash resources to comply with its obligation to advance funds as well as incur additional administrative costs related to increases in collection efforts.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 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 June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, 2022 2021 (In thousands) Commitments to extend credit $ 1,366,552 $ 1,365,273 Commercial letters of credit 3,230 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 June 30, 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 June 30, 2022 and December 31, 2021, is as follows: June 30, December 31, 2022 2021 (In thousands) Standby letters of credit and financial guarantees $ 28,728 $ 25,203 Loans sold with recourse 115,638 121,778 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 June 30, 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 $770 thousand and $1.0 million, respectively, and is included in other liabilities in the statement of financial condition. At June 30, 2022 and December 31, 2021, OFG maintained other non-credit commitments amounting to $21.8 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 June 30, 2022 and December 31, 2021, OFG had commitments for capital expenditures in technology amounting to $8.9 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 June 30, 2022 and December 31, 2021, this accrued liability amounted to $3.9 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 evaluated all arbitration, litigation and regulatory matters where the likelihood of a potential loss is deemed reasonably possible. OFG has determined that the estimate of the reasonably possible loss is not significant.

OPERATING LEASES

OPERATING LEASES	6 Months Ended
OPERATING LEASES	Jun. 30, 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 2024; all are operating leases. Operating Lease Cost Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 Statement of Operations (In thousands) Lease costs $ 2,663 $ 2,851 $ 5,218 $ 6,224 Occupancy and equipment Variable lease costs 285 495 832 988 Occupancy and equipment Short-term lease cost 282 126 537 146 Occupancy and equipment Lease income (53) (112) (129) (232) Occupancy and equipment Total lease cost $ 3,177 $ 3,360 $ 6,458 $ 7,126 Operating Lease Assets and Liabilities June 30, December 31, 2022 2021 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 27,699 $ 28,846 Operating lease right-of-use assets Lease Liabilities $ 29,538 $ 30,498 Operating leases liabilities June 30, 2022 (In thousands) Weighted-average remaining lease term 5.3 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 June 30, 2022 were as follows: Minimum Rent As of June 30, 2022 (In thousands) 2022 $ 4,733 2023 8,771 2024 6,441 2025 4,612 2026 3,033 Thereafter 7,923 Total lease payments $ 35,513 Less imputed interest 5,975 Present value of lease liabilities $ 29,538

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Jun. 30, 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: June 30, 2022 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 10,733 $ 1,147,256 $ 1,581 $ 1,159,570 Trading securities — 13 — 13 Money market investments 4,913 — — 4,913 Derivative assets — 187 — 187 Servicing assets — — 49,280 49,280 Derivative liabilities — (21) — (21) $ 15,646 $ 1,147,435 $ 50,861 $ 1,213,942 Non-recurring fair value measurements: Collateral dependent loans — — 21,565 21,565 Foreclosed real estate — — 15,061 15,061 Other repossessed assets — — 2,533 2,533 $ — $ — $ 39,159 $ 39,159 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. Instead, it is as of the date that the fair value measurement was recorded during the periods ended June 30, 2022 and December 31, 2021, and excludes nonrecurring fair value measurements of assets no longer outstanding as of the reporting date. The tables below present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and six-month periods ended June 30, 2022 and 2021: Level 3 Instruments Only Quarter Ended June 30, 2022 2021 Other debt securities available for sale Servicing Assets Total Servicing Assets (In thousands) Balance at beginning period $ 1,554 $ 49,446 $ 51,000 $ 47,911 New instruments acquired — 1,150 1,150 2,023 Principal repayments and amortization — (1,478) (1,478) (1,862) Gains (losses) included in earnings — 162 162 (360) Gains included in other comprehensive income 27 — 27 — Balance at end of period $ 1,581 $ 49,280 $ 50,861 $ 47,712 Other debt securities available for sale Servicing Assets Total Servicing Assets Six-Month Period Ended June 30, 2022 2021 (In thousands) Balance at beginning year $ 1,530 $ 48,973 $ 50,503 $ 47,295 New instruments acquired — 2,269 2,269 3,443 Principal repayments and amortization — (2,977) (2,977) (3,369) Gains included in earnings — 1,015 1,015 343 Gains included in other comprehensive income 51 — 51 — Balance at end of year $ 1,581 $ 49,280 $ 50,861 $ 47,712 There were no transfers into or out of Level 3 during the quarters and six-month periods ended June 30, 2022 and 2021. Servicing assets gains (losses) included in earnings during the quarters and six-month periods ended June 30, 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 June 30, 2021 during the quarter and six-month period 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 and six-month periods ended June 30, 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 June 30, 2022: June 30, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Other debt securities available-for-sale $ 1,581 Cash flow valuation Credit Rating Baa1 - Baa3 Baa2 Probability of Default Rate 0.15% - 2.12% 0.15 % Recovery Rate 33.08 % 33.08 % Servicing assets $ 49,280 Cash flow valuation Constant prepayment rate 3.60% - 22.71% 5.90 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 21,565 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.16 % Foreclosed real estate $ 15,061 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 11.69 % Other repossessed assets $ 2,533 Fair value of property Estimated net realizable value less disposition costs 20.00% - 90.00% 61.76 % 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 June 30, 2022 and December 31, 2021 is as follows: June 30, December 31, 2022 2021 Fair Carrying Fair Carrying (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 1,307,112 $ 1,307,112 $ 2,023,475 $ 2,023,475 Restricted cash $ 169 $ 169 $ 175 $ 175 Investment securities available-for-sale $ 10,733 $ 10,733 $ 10,825 $ 10,825 Level 2 Financial Assets: Trading securities $ 13 $ 13 $ 20 $ 20 Investment securities available-for-sale $ 1,147,256 $ 1,147,256 $ 498,358 $ 498,358 Investment securities held-to-maturity $ 501,747 $ 547,832 $ 363,653 $ 367,507 Federal Home Loan Bank (FHLB) stock $ 6,047 $ 6,047 $ 5,966 $ 5,966 Equity securities $ 13,801 $ 13,801 $ 11,612 $ 11,612 Derivative assets $ 187 $ 187 $ 1 $ 1 Financial Liabilities: Derivative liabilities $ 21 $ 21 $ 804 $ 804 Level 3 Financial Assets: Investment securities available for sale $ 1,581 $ 1,581 $ 1,530 $ 1,530 Total loans (including loans held-for-sale) $ 6,517,268 $ 6,585,210 $ 6,197,347 $ 6,329,311 Accrued interest receivable $ 58,371 $ 58,371 $ 56,560 $ 56,560 Servicing assets $ 49,280 $ 49,280 $ 48,973 $ 48,973 Accounts receivable and other assets $ 86,225 $ 86,225 $ 88,756 $ 88,756 Financial Liabilities: Deposits $ 9,032,247 $ 9,029,570 $ 8,614,073 $ 8,603,118 Advances from FHLB $ 27,557 $ 27,586 $ 28,480 $ 28,488 Other borrowings $ 32 $ 32 $ — $ — Subordinated capital notes $ — $ — $ 36,084 $ 36,083 Accrued expenses and other liabilities $ 119,065 $ 119,065 $ 96,240 $ 96,240 The following methods and assumptions were used to estimate the fair values of significant financial instruments at June 30, 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, accrued expenses and other liabilities, and other borrowings 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 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	6 Months Ended
BANKING AND FINANCIAL SERVICE REVENUES	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) (In thousands) Banking service revenues: Checking accounts fees $ 2,225 $ 2,082 $ 4,370 $ 4,044 Savings accounts fees 326 297 605 549 Electronic banking fees 14,080 14,638 27,174 27,521 Credit life commissions 291 70 595 187 Branch service commissions 300 275 660 636 Servicing and other loan fees 669 720 1,806 1,485 International fees 246 154 485 305 Miscellaneous income 4 15 8 21 Total banking service revenues 18,141 18,251 35,703 34,748 Wealth management revenue: Insurance income 3,818 2,995 6,852 5,226 Broker fees 1,714 2,328 3,603 4,452 Trust fees 2,566 2,717 5,307 5,499 Retirement plan and administration fees 172 223 365 474 Total wealth management revenue 8,270 8,263 16,127 15,651 Mortgage banking activities: Net servicing fees 3,839 3,127 8,202 7,477 Net gains on sale of mortgage loans and valuation 993 2,931 2,308 5,423 Other (29) (1,518) 75 (2,787) Total mortgage banking activities 4,803 4,540 10,585 10,113 Total banking and financial service revenues $ 31,214 $ 31,054 $ 62,415 $ 60,512 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 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. 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. Other income as credit life and branch service commissions, servicing and other loan fees, international fees, and miscellaneous income 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. 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. 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. Mortgage Banking Activities Mortgage banking activities as servicing fees, gain on sale of mortgage loans and valuation, and other are out of the scope of ASC 606.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
BUSINESS SEGMENTS	Jun. 30, 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, auto 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, securities 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 109,292 $ 5 $ 12,925 $ 122,222 $ — $ 122,222 Interest expense (6,280) — (848) (7,128) — (7,128) Net interest income 103,012 5 12,077 115,094 — 115,094 Provision for credit losses 6,634 — 57 6,691 — 6,691 Non-interest income 27,802 8,408 — 36,210 — 36,210 Non-interest expenses (79,656) (4,795) (807) (85,258) — (85,258) Intersegment revenue 543 — — 543 (543) — Intersegment expenses — (376) (167) (543) 543 — Income before income taxes 45,067 3,242 11,046 59,355 — 59,355 Income tax expense 18,580 — 343 18,923 — 18,923 Net income $ 26,487 $ 3,242 $ 10,703 $ 40,432 $ — $ 40,432 Total assets $ 8,235,814 $ 28,240 $ 2,997,323 $ 11,261,377 $ (1,013,603) $ 10,247,774 Six-Month Period Ended June 30, 2022 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 216,115 $ 10 $ 19,046 $ 235,171 $ — $ 235,171 Interest expense (13,651) — (1,232) (14,883) — (14,883) Net interest income 202,464 10 17,814 220,288 — 220,288 Provision for (recapture of) credit losses 8,344 — (102) 8,242 — 8,242 Non-interest income 51,352 16,414 50 67,816 — 67,816 Non-interest expenses (155,447) (9,380) (1,586) (166,413) — (166,413) Intersegment revenue 1,057 — — 1,057 (1,057) — Intersegment expenses — (719) (338) (1,057) 1,057 — Income before income taxes $ 91,082 $ 6,325 $ 16,042 $ 113,449 $ — $ 113,449 Income tax expense 35,062 — 434 35,496 — 35,496 Net income $ 56,020 $ 6,325 $ 15,608 $ 77,953 $ — $ 77,953 Total assets $ 8,235,814 $ 28,240 $ 2,997,323 $ 11,261,377 $ (1,013,603) $ 10,247,774 Quarter Ended June 30, 2021 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 110,446 $ 6 $ 3,005 $ 113,457 $ — $ 113,457 Interest expense (10,712) — (494) (11,206) — (11,206) Net interest income 99,734 6 2,511 102,251 — 102,251 Provision for (recapture of) credit losses (7,737) — (568) (8,305) — (8,305) Non-interest income 24,215 7,974 8 32,197 — 32,197 Non-interest expenses (76,623) (5,015) (1,038) (82,676) — (82,676) Intersegment revenue 545 — — 545 (545) — Intersegment expenses — (302) (243) (545) 545 — Income before income taxes 55,608 2,663 1,806 60,077 — 60,077 Income tax expense 19,239 — 11 19,250 — 19,250 Net income $ 36,369 $ 2,663 $ 1,795 $ 40,827 $ — $ 40,827 Total assets $ 8,271,348 $ 31,165 $ 3,232,968 $ 11,535,481 $ (1,073,668) $ 10,461,813 Six-Month Period Ended June 30, 2021 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 218,676 $ 18 $ 5,739 $ 224,433 $ — $ 224,433 Interest expense (22,848) — (1,136) (23,984) — (23,984) Net interest income 195,828 18 4,603 200,449 — 200,449 Provision for credit losses (1,149) — (832) (1,981) — (1,981) Non-interest income 47,088 15,505 17 62,610 — 62,610 Non-interest expenses (150,497) (7,844) (2,001) (160,342) — (160,342) Intersegment revenue 1,098 — — 1,098 (1,098) — Intersegment expenses — (593) (505) (1,098) 1,098 — Income before income taxes $ 94,666 $ 7,086 $ 2,946 $ 104,698 $ — $ 104,698 Income tax expense 33,475 — 23 33,498 — 33,498 Net income $ 61,191 $ 7,086 $ 2,923 $ 71,200 $ — $ 71,200 Total assets $ 8,271,348 $ 31,165 $ 3,232,968 $ 11,535,481 $ (1,073,668) $ 10,461,813

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 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, OFG Reinsurance Ltd (“OFG Reinsurance”), a retirement plan administrator, Oriental Pension Consultants, Inc. (“OPC”), and OFG Ventures LLC (“OFG Ventures”), which holds certain equity 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, auto leasing and lending, financial planning, insurance sales, money management, investment banking and securities 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 (“2021 Form 10-K”). Operating results for six-month period ended June 30, 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.
Recently Adopted Accounting Standards Updates and Accounting Standards Updated Not Yet Adopted	Recently Adopted Accounting Standards Updates 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. OFG was not impacted by the adoption of this ASU since it does not hold these instruments. Accounting Standards Updated Not Yet Adopted Fair Value Measurements—Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions Disclosures. In June 2022, the FASB issued ASU 2022-03 to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction and requires certain disclosures for equity securities subject to contractual restrictions. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Entities are permitted to early adopt these amendments, including adoption in any interim period. The amendments should be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. Upon adoption of this ASU, OFG will consider this guidance for equity securities subject to contractual sale restrictions. 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 its presentation and disclosures upon adoption of this standard. For other recently issued Accounting Standards Updates not yet effective, refer to Note 1 to the Consolidated Financial Statements included in the 2021 Form 10-K.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
INVESTMENT SECURITIES (Tables)	Jun. 30, 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 June 30, 2022 and December 31, 2021 were as follows: June 30, 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 $ 1,759 $ — $ 31 $ 1,728 2.12 % Due from 5 to 10 years 76,908 — 2,005 74,903 1.95 % Due after 10 years 795,150 948 33,267 762,831 2.82 % Total FNMA and FHLMC certificates 873,817 948 35,303 839,462 2.74 % GNMA Securities Due from 1 to 5 years 15,130 — 431 14,699 1.63 % Due from 5 to 10 years 28,190 38 997 27,231 2.03 % Due after 10 years 268,591 616 22,780 246,427 2.52 % Total GNMA certificates 311,911 654 24,208 288,357 2.44 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 14,809 — 391 14,418 1.79 % Due from 5 to 10 years 3,223 — 79 3,144 1.82 % Due after 10 years 1,091 — 13 1,078 4.88 % Total CMOs issued by US government-sponsored agencies 19,123 — 483 18,640 1.97 % Total mortgage-backed securities 1,204,851 1,602 59,994 1,146,459 2.64 % Investment securities US Treasury securities Due less than 1 year 10,734 — 1 10,733 1.53 % Other debt securities Due less than 1 year 500 — — 500 0.57 % Due from 1 to 5 years 1,798 81 1 1,878 5.50 % Total other debt securities 2,298 81 1 2,378 4.43 % Total investment securities 13,032 81 2 13,111 2.04 % Total securities available for sale $ 1,217,883 $ 1,683 $ 59,996 $ 1,159,570 2.64 % June 30, 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 $ 351,016 $ — $ 47,628 $ 303,388 1.70 % Investment securities US Treasury securities Due from 1 to 5 years 196,816 1,543 — 198,359 3.36 % Total securities held-to-maturity $ 547,832 $ 1,543 $ 47,628 $ 501,747 2.30 % 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 % Obligations of US government-sponsored agencies Due less than 1 year 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 shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale and held-to-maturity at June 30, 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: June 30, 2022 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 89,333 $ 15,279 $ 74,054 GNMA certificates 499 73 426 $ 89,832 $ 15,352 $ 74,480 June 30, 2022 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies $ 19,123 $ 483 $ 18,640 FNMA and FHLMC certificates 664,722 20,024 644,698 GNMA certificates 282,987 24,135 258,852 US Treasury securities 734 1 733 Other debt securities 298 1 297 967,864 44,644 923,220 Held-to-maturity FNMA and FHLMC certificates $ 351,016 $ 47,628 $ 303,388 June 30, 2022 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale CMOs issued by US Government-sponsored agencies $ 19,123 $ 483 $ 18,640 FNMA and FHLMC certificates 754,055 35,303 718,752 GNMA certificates 283,486 24,208 259,278 US Treasury Securities 734 1 733 Other debt securities 298 1 297 1,057,696 59,996 997,700 Held-to-maturity FNMA and FHLMC certificates $ 351,016 $ 47,628 $ 303,388 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)	6 Months Ended
LOANS (Tables)	Jun. 30, 2022
Receivables [Abstract]
Schedule of Loan Portfolio	The composition of the amortized cost basis of OFG’s loan portfolio at June 30, 2022 and December 31, 2021 was as follows: June 30, 2022 December 31, 2021 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial loans: Commercial secured by real estate $ 932,165 $ 147,362 $ 1,079,527 $ 883,994 $ 176,186 $ 1,060,180 Other commercial and industrial 832,309 26,920 859,229 759,172 28,149 787,321 Other commercial and industrial - Paycheck Protection Program (PPP Loans) 33,304 — 33,304 86,889 — 86,889 US commercial loans 623,807 — 623,807 444,940 — 444,940 2,421,585 174,282 2,595,867 2,174,995 204,335 2,379,330 Mortgage 708,755 1,099,097 1,807,852 718,848 1,188,423 1,907,271 Consumer: Personal loans 440,419 402 440,821 346,859 546 347,405 Credit lines 13,597 296 13,893 14,775 370 15,145 Credit cards 44,074 — 44,074 46,795 — 46,795 Overdraft 314 — 314 330 — 330 498,404 698 499,102 408,759 916 409,675 Auto and leasing 1,791,052 8,788 1,799,840 1,693,029 13,281 1,706,310 5,419,796 1,282,865 6,702,661 4,995,631 1,406,955 6,402,586 Allowance for credit losses (143,896) (15,143) (159,039) (132,065) (23,872) (155,937) Total loans held for investment, net 5,275,900 1,267,722 6,543,622 4,863,566 1,383,083 6,246,649 Mortgage loans held for sale 26,947 — 26,947 51,096 — 51,096 Other loans held for sale 14,641 — 14,641 31,566 — 31,566 Total loans held for sale 41,588 — 41,588 82,662 — 82,662 Total loans, net $ 5,317,488 $ 1,267,722 $ 6,585,210 $ 4,946,228 $ 1,383,083 $ 6,329,311
Schedule of Aging of Recorded Investment in Gross Loans	June 30, 2022 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial Commercial secured by real estate $ 1,529 $ 2,903 $ 6,502 $ 10,934 $ 921,231 $ 932,165 $ — Other commercial and industrial 1,481 88 741 2,310 863,303 865,613 — US commercial loans — — — — 623,807 623,807 — 3,010 2,991 7,243 13,244 2,408,341 2,421,585 — Mortgage 6,995 6,942 55,669 69,606 639,149 708,755 1,301 Consumer Personal loans 4,279 1,951 1,207 7,437 432,982 440,419 — Credit lines 261 150 164 575 13,022 13,597 — Credit cards 702 362 604 1,668 42,406 44,074 — Overdraft 57 — — 57 257 314 — 5,299 2,463 1,975 9,737 488,667 498,404 — Auto and leasing 63,599 27,808 15,230 106,637 1,684,415 1,791,052 — Total loans $ 78,903 $ 40,204 $ 80,117 $ 199,224 $ 5,220,572 $ 5,419,796 $ 1,301 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 June 30, 2022 and December 31, 2021: June 30, 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 $ 17,088 $ 18,134 $ 35,222 $ 16,299 $ 19,538 $ 35,837 Other commercial and industrial 2,698 294 2,992 1,284 483 1,767 US commercial loans 8,992 — 8,992 — — — 28,778 18,428 47,206 17,583 20,021 37,604 Mortgage 14,062 9,319 23,381 16,428 12,840 29,268 Consumer Personal loans 882 338 1,220 1,143 302 1,445 Personal lines of credit 164 — 164 226 — 226 Credit cards 603 — 603 632 — 632 1,649 338 1,987 2,001 302 2,303 Auto and leasing 15,328 1 15,329 19,827 2 19,829 Total $ 59,817 $ 28,086 $ 87,903 $ 55,839 $ 33,165 $ 89,004 PCD: Commercial Commercial secured by real estate $ 3,406 $ 6,611 $ 10,017 $ 5,205 $ 6,198 $ 11,403 Other commercial and industrial — 40 40 1,102 40 1,142 3,406 6,651 10,057 6,307 6,238 12,545 Mortgage 261 — 261 334 — 334 Total $ 3,667 $ 6,651 $ 10,318 $ 6,641 $ 6,238 $ 12,879 Total non-accrual loans $ 63,484 $ 34,737 $ 98,221 $ 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 June 30, 2022 and December 31, 2021. June 30, 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 $ 30,987 $ 14,033 $ 45,020 $ 273 $ 10,981 $ 14,444 $ 25,425 $ 202 Other commercial and industrial 2,532 403 2,935 54 2,785 473 3,258 41 US commercial loans 7,203 — 7,203 197 7,156 — 7,156 126 40,722 14,436 55,158 524 20,922 14,917 35,839 369 Mortgage 106,658 8,981 115,639 3,106 101,487 9,475 110,962 3,867 Consumer: Personal loans 2,519 13 2,532 122 3,275 139 3,414 159 Auto and leasing 97 1 98 4 203 8 211 11 Total loans $ 149,996 $ 23,431 $ 173,427 $ 3,756 $ 125,887 $ 24,539 $ 150,426 $ 4,406 The following tables present the troubled-debt restructurings by loan portfolios and modification type as of June 30, 2022 and December 31, 2021 : June 30, 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 $ 8,093 $ 25,777 $ 7,947 $ 3,203 $ 45,020 Other commercial and industrial 818 1,600 493 24 2,935 US commercial loans 7,203 — — — 7,203 16,114 27,377 8,440 3,227 55,158 Mortgage 36,793 7,747 37,519 33,580 115,639 Consumer: Personal loans 1,088 204 1,126 114 2,532 Auto and leasing 44 — 25 29 98 Total loans $ 54,039 $ 35,328 $ 47,110 $ 36,950 $ 173,427 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 and six-month periods ended June 30, 2022 and 2021 were as follows: Quarter Ended June 30, 2022 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 36 $ 4,333 4.58 % 267 $ 4,608 3.68 % 344 Commercial 2 37,808 3.51 % 133 37,808 3.61 % 187 Consumer 1 9 20.95 % 72 9 10.95 % 72 Six-Month Period Ended June 30, 2022 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 72 $ 9,033 4.55 % 270 $ 9,471 3.57 % 343 Commercial 4 38,703 3.56 % 131 38,560 3.63 % 184 Consumer 2 22 19.27 % 79 22 10.95 % 79 Quarter Ended June 30, 2021 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 44 5,104 4.24 % 303 4,880 3.59 % 349 Commercial 1 991 4.25 % 175 880 5.75 % 60 Consumer 7 139 12.76 % 72 139 9.47 % 76 Auto and leasing 3 44 13.15 % 78 44 10.15 % 73 Six-Month Period Ended June 30, 2021 Number of contracts Pre-Modification Pre-Modification Pre-Modification Post-Modification Post-Modification Post-Modification (Dollars in thousands) Mortgage 70 $ 8,661 4.14 % 302 $ 8,460 3.60 % 342 Commercial 3 1,176 4.72 % 157 1,085 5.95 % 60 Consumer 9 155 12.65 % 70 156 9.52 % 75 Auto and leasing 8 126 9.04 % 70 126 9.93 % 49 The following table presents troubled-debt restructurings for which there was a payment default during the twelve-month periods ended June 30, 2022 and 2021: Twelve-Month Period Ended June 30, 2022 2021 Number of Contracts Recorded Investment Number of Contracts Recorded Investment (Dollars in thousands) Mortgage 7 $ 800 19 $ 2,191 Consumer 3 $ 47 1 $ 14 Auto and leasing — $ — 11 $ 64
Schedule of Aging of the Amortized Cost of Collateral-Dependent Loans Held for Investment	The table below presents the amortized cost of collateral-dependent loans held for investment at June 30, 2022 and December 31, 2021, by class of loans. June 30, 2022 December 31, 2021 (In thousands) Commercial loans: Commercial secured by real estate $ 21,565 $ 10,233
Schedule of Credit Quality Indicators of Loans	As of June 30, 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 $ 136,168 $ 181,469 $ 121,765 $ 111,269 $ 67,813 $ 186,450 $ 42,048 $ 846,982 Special Mention — — 608 31,749 4,353 7,463 685 44,858 Substandard — 8,689 10,080 167 511 16,643 3,694 39,784 Doubtful — — — — — 18 523 541 Loss — — — — — — — — Total commercial secured by real estate 136,168 190,158 132,453 143,185 72,677 210,574 46,950 932,165 Other commercial and industrial: Loan grade: Pass 57,167 224,278 81,381 39,130 58,787 14,136 382,607 857,486 Special Mention — 9 29 680 1,954 — 2,217 4,889 Substandard 126 57 175 196 503 120 2,015 3,192 Doubtful — — — — — — 46 46 Loss — — — — — — — — Total other commercial and industrial: 57,293 224,344 81,585 40,006 61,244 14,256 386,885 865,613 US commercial loans: Loan grade: Pass 54,361 85,534 57,794 37,559 52,194 — 314,371 601,813 Special Mention — — — — 4,912 — — 4,912 Substandard 887 — 7,203 1,538 2,958 — — 12,586 Doubtful — — — — 4,496 — — 4,496 Loss — — — — — — — — Total US commercial loans: 55,248 85,534 64,997 39,097 64,560 — 314,371 623,807 Total commercial loans $ 248,709 $ 500,036 $ 279,035 $ 222,288 $ 198,481 $ 224,830 $ 748,206 $ 2,421,585 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 $ 10,017 $ 26,538 $ 16,966 $ 15,111 $ 17,007 $ 589,770 $ — $ — $ 675,409 Nonperforming — — 123 858 462 31,903 — — 33,346 Total mortgage loans: 10,017 26,538 17,089 15,969 17,469 621,673 — — 708,755 Consumer: Personal loans: Payment performance: Performing 180,716 142,304 40,917 45,414 19,418 10,430 — — 439,199 Nonperforming 33 295 162 194 168 368 — — 1,220 Total personal loans 180,749 142,599 41,079 45,608 19,586 10,798 — — 440,419 Credit lines: Payment performance: Performing — — — — — — 13,433 — 13,433 Nonperforming — — — — — — 164 — 164 Total credit lines — — — — — — 13,597 — 13,597 Credit cards: Payment performance: Performing — — — — — — 43,471 — 43,471 Nonperforming — — — — — — 603 — 603 Total credit cards — — — — — — 44,074 — 44,074 Overdrafts: Payment performance: Performing — — — — — — 314 — 314 Nonperforming — — — — — — — — — Total overdrafts — — — — — — 314 — 314 Total consumer loans 180,749 142,599 41,079 45,608 19,586 10,798 57,985 — 498,404 Total mortgage and consumer loans $ 190,766 $ 169,137 $ 58,168 $ 61,577 $ 37,055 $ 632,471 $ 57,985 $ — $ 1,207,159 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 78,283 149,018 76,504 66,065 52,072 43,198 465,140 661-699 76,782 124,169 53,105 36,849 27,029 19,624 337,558 700+ 164,107 247,689 163,079 159,093 109,330 71,625 914,923 No FICO 13,379 20,182 11,555 14,032 8,201 6,082 73,431 Total auto and leasing: $ 332,551 $ 541,058 $ 304,243 $ 276,039 $ 196,632 $ 140,529 $ 1,791,052 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)	6 Months Ended
ALLOWANCE FOR CREDIT LOSSES (Tables)	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 37,097 $ 14,952 $ 21,100 $ 64,195 $ 137,344 Provision for (recapture of) credit losses 7,368 (3,122) 4,521 3,535 12,302 Charge-offs (2,907) (259) (3,307) (6,428) (12,901) Recoveries 456 335 795 5,565 7,151 Balance at end of period $ 42,014 $ 11,906 $ 23,109 $ 66,867 $ 143,896 PCD: Balance at beginning of period $ 3,622 $ 15,881 $ 31 $ 197 $ 19,731 Recapture of provision for credit losses (1,444) (4,183) (16) (152) (5,795) Charge-offs — (183) (8) (75) (266) Recoveries 249 1,026 13 185 1,473 Balance at end of period $ 2,427 $ 12,541 $ 20 $ 155 $ 15,143 Total allowance for credit losses at end of period $ 44,441 $ 24,447 $ 23,129 $ 67,022 $ 159,039 Six-Month Period Ended June 30, 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 12,555 (5,540) 8,484 5,366 20,865 Charge-offs (3,451) (262) (5,966) (14,318) (23,997) Recoveries 648 2,409 1,450 10,456 14,963 Balance at end of period $ 42,014 $ 11,906 $ 23,109 $ 66,867 $ 143,896 PCD: Balance at beginning of period $ 4,508 $ 19,018 $ 34 $ 312 $ 23,872 Recapture of provision for credit losses (5,319) (7,031) (3) (290) (12,643) Charge-offs (34) (1,317) (47) (189) (1,587) Recoveries 3,272 1,871 36 322 5,501 Balance at end of period $ 2,427 $ 12,541 $ 20 $ 155 $ 15,143 Total allowance for credit losses at end of period $ 44,441 $ 24,447 $ 23,129 $ 67,022 $ 159,039 Quarter Ended June 30, 2021 Commercial Mortgage Consumer Auto and Leasing Total (In thousands) Non-PCD: Balance at beginning of period $ 47,683 $ 17,035 $ 21,191 $ 71,069 $ 156,978 (Recapture of) provision for credit losses (4,503) (592) 74 (2,538) (7,559) Charge-offs (653) (268) (2,897) (5,170) (8,988) Recoveries 996 193 697 5,997 7,883 Balance at end of period $ 43,523 $ 16,368 $ 19,065 $ 69,358 $ 148,314 PCD: Balance at beginning of period $ 14,306 $ 29,939 $ 52 $ 698 $ 44,995 (Recapture of) provision for credit losses (1,974) 1,727 (47) (285) (579) Charge-offs (6) (1,742) — (226) (1,974) Recoveries 430 184 33 314 961 Balance at end of period $ 12,756 $ 30,108 $ 38 $ 501 $ 43,403 Total allowance for credit losses at end of period $ 56,279 $ 46,476 $ 19,103 $ 69,859 $ 191,717 Six-Month Period Ended June 30, 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 (Recapture of) provision for credit losses (2,961) (3,071) (85) 1,501 (4,616) Charge-offs (720) (1,056) (7,366) (14,253) (23,395) Recoveries 1,425 808 1,263 11,814 15,310 Balance at end of period $ 43,523 $ 16,368 $ 19,065 $ 69,358 $ 148,314 PCD: Balance at beginning of period $ 16,405 $ 26,389 $ 57 $ 943 $ 43,794 (Recapture of) provision for credit losses (4,466) 7,721 (52) (457) 2,746 Charge-offs (50) (4,332) (22) (682) (5,086) Recoveries 867 330 55 697 1,949 Balance at end of period $ 12,756 $ 30,108 $ 38 $ 501 $ 43,403 Total allowance for credit losses at end of period $ 56,279 $ 46,476 $ 19,103 $ 69,859 $ 191,717

FORECLOSED REAL ESTATE (Tables)

FORECLOSED REAL ESTATE (Tables)	6 Months Ended
FORECLOSED REAL ESTATE (Tables)	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Balance at beginning of period $ 15,297 $ 15,598 $ 15,039 $ 11,596 Additions 2,549 2,907 5,729 9,544 Sales (4,140) (3,098) (7,947) (5,521) Decline in value (219) (671) (414) (760) Other adjustments 1,574 357 2,654 234 Balance at end of period $ 15,061 $ 15,093 $ 15,061 $ 15,093

SERVICING ASSETS (Tables)

SERVICING ASSETS (Tables)	6 Months Ended
SERVICING ASSETS (Tables)	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Fair value at beginning of period $ 49,446 $ 47,911 $ 48,973 $ 47,295 Servicing from mortgage securitization or asset transfers 1,150 2,023 2,269 3,443 Changes due to payments on loans (1,478) (1,862) (2,977) (3,369) Changes in fair value due to changes in valuation model inputs or assumptions 162 (360) 1,015 343 Fair value at end of period $ 49,280 $ 47,712 $ 49,280 $ 47,712
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 six-month periods ended June 30, 2022 and 2021: Six-Month Period Ended June 30, 2022 2021 Constant prepayment rate 3.60% - 22.71% 4.82% - 25.64% 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: June 30, 2022 December 31, 2021 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 49,280 $ 48,973 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (951) $ (1,020) Decrease in fair value due to 20% adverse change $ (1,872) $ (2,004) Discount rate Decrease in fair value due to 10% adverse change $ (2,221) $ (2,175) Decrease in fair value due to 20% adverse change $ (4,270) $ (4,183)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Jun. 30, 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 June 30, 2022 and December 31, 2021: Gross Accumulated Net (In thousands) June 30, 2022 Core deposit intangibles $ 51,402 $ 27,048 $ 24,354 Customer relationship intangibles 17,753 10,354 7,399 Other intangibles 567 520 47 Total other intangible assets $ 69,722 $ 37,922 $ 31,800 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)	6 Months Ended
ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Tables)	Jun. 30, 2022
Accrued Interest Receivable and Other Assets [Abstract]
Schedule of Accrued interest receivable	Accrued interest receivable at June 30, 2022 and December 31, 2021 consists of the following: June 30, December 31, 2022 2021 (In thousands) Loans $ 54,279 $ 54,794 Investments 4,092 1,766 $ 58,371 $ 56,560
Schedule of Other Assets	Other assets at June 30, 2022 and December 31, 2021 consist of the following: June 30, December 31, 2022 2021 (In thousands) Prepaid expenses $ 65,696 $ 61,061 Other repossessed assets 2,533 1,945 Investment in Statutory Trust — 1,083 Accounts receivable and other assets 86,412 88,756 $ 154,641 $ 152,845

DEPOSITS AND RELATED INTEREST (

DEPOSITS AND RELATED INTEREST (Tables)	6 Months Ended
DEPOSITS AND RELATED INTEREST (Tables)	Jun. 30, 2022
Deposits and Related Interest [Abstract]
Schedule of Deposits by Component	Total deposits, including related accrued interest payable, as of June 30, 2022 and December 31, 2021 consist of the following: June 30, December 31, 2022 2021 (In thousands) Non-interest bearing demand deposits $ 2,707,504 $ 2,501,644 Interest-bearing savings and demand deposits 5,185,419 4,880,476 Retail certificates of deposit 928,178 1,007,577 Institutional certificates of deposit 197,098 202,050 Total core deposits 9,018,199 8,591,747 Brokered deposits 11,371 11,371 Total deposits $ 9,029,570 $ 8,603,118
Schedule of Interest Expense	Interest expense for the quarters and six-month periods ended June 30, 2022 and 2021 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Demand and savings deposits $ 5,101 $ 6,209 $ 10,077 $ 12,580 Certificates of deposit 1,843 4,251 3,908 9,904 $ 6,944 $ 10,460 $ 13,985 $ 22,484
Schedule of Maturities of Time Deposits	Excluding accrued interest of approximately $580 thousand and $736 thousand, the scheduled maturities of certificates of deposit at June 30, 2022 and December 31, 2021 are as follows: June 30, 2022 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 242,135 $ 34,571 Over 3 months through 6 months 110,671 19,968 Over 6 months through 1 year 310,192 47,591 662,998 102,130 Over 1 through 2 years 239,730 36,483 Over 2 through 3 years 111,306 16,166 Over 3 through 4 years 79,182 23,596 Over 4 through 5 years 41,822 3,149 Over 5 years 1,029 — $ 1,136,067 $ 181,524 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)	6 Months Ended
BORROWINGS AND RELATED INTEREST (Tables)	Jun. 30, 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 $28 thousand and $8 thousand at June 30, 2022 and December 31, 2021, respectively: June 30, December 31, 2022 2021 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 1.21% (December 31, 2021 - 0.35%) $ 27,558 $ 28,480 Advances from FHLB mature as follows: June 30, December 31, 2022 2021 (In thousands) Under 90 days $ 27,558 $ 28,480

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	6 Months Ended
REGULATORY CAPITAL REQUIREMENTS (Tables)	Jun. 30, 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 June 30, 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 June 30, 2022 Total capital to risk-weighted assets $ 1,053,766 14.05 % $ 787,413 10.50 % $ 749,917 10.00 % Tier 1 capital to risk-weighted assets $ 960,015 12.80 % $ 637,430 8.50 % $ 599,934 8.00 % Common equity tier 1 capital to risk-weighted assets $ 960,015 12.80 % $ 524,942 7.00 % $ 487,446 6.50 % Tier 1 capital to average total assets $ 960,015 9.46 % $ 405,805 4.00 % $ 507,257 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 June 30, 2022 Total capital to risk-weighted assets $ 999,970 13.41 % $ 782,992 10.50 % $ 745,707 10.00 % Tier 1 capital to risk-weighted assets $ 906,739 12.16 % $ 633,851 8.50 % $ 596,565 8.00 % Common equity tier 1 capital to risk-weighted assets $ 906,739 12.16 % $ 521,995 7.00 % $ 484,709 6.50 % Tier 1 capital to average total assets $ 906,739 8.98 % $ 403,697 4.00 % $ 504,621 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)	6 Months Ended
STOCKHOLDERS’ EQUITY (Tables)	Jun. 30, 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 six-month periods ended June 30, 2022 and 2021 is set forth below: Six-Month Period Ended June 30, 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 (269,239) (3,544) (273,436) (2,230) Common shares repurchased as part of the stock repurchase programs 2,351,868 64,110 — — End of period 12,331,511 $ 211,138 8,224,727 $ 100,719

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	6 Months Ended
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive (loss) income, net of income taxes, as of June 30, 2022 and December 31, 2021 consisted of: June 30, December 31, 2022 2021 (In thousands) Unrealized (loss) gain on securities available-for-sale which are not $ (58,313) $ 7,292 Income tax effect of unrealized loss (gain) on securities available-for-sale 8,707 (1,629) Net unrealized (loss) gain on securities available-for-sale which are not (49,606) 5,663 Unrealized gain (loss) on cash flow hedges 165 (804) Income tax effect of unrealized gain (loss) on cash flow hedges (61) 301 Net unrealized gain (loss) on cash flow hedges 104 (503) Accumulated other comprehensive (loss) income, net of income taxes $ (49,502) $ 5,160 The following table presents changes in accumulated other comprehensive (loss) income by component, net of taxes, for the quarters and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (20,522) $ (116) $ (20,638) Other comprehensive (loss) income before reclassifications (29,086) 36 (29,050) Amounts reclassified out of accumulated other comprehensive (loss) income 2 184 186 Other comprehensive (loss) income (29,084) 220 (28,864) Ending balance $ (49,606) $ 104 $ (49,502) Six-Month Period Ended June 30, 2022 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 5,663 $ (503) $ 5,160 Other comprehensive (loss) income before reclassifications (55,273) 230 (55,043) Amounts reclassified out of accumulated other comprehensive (loss) income 4 377 381 Other comprehensive (loss) income (55,269) 607 (54,662) Ending balance $ (49,606) $ 104 $ (49,502) Quarter Ended June 30, 2021 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 7,145 $ (915) $ 6,230 Other comprehensive income (loss) before reclassifications 1,262 (345) 917 Amounts reclassified out of accumulated other comprehensive income 1 452 453 Other comprehensive income 1,263 107 1,370 Ending balance $ 8,408 $ (808) $ 7,600 Six-Month Period Ended June 30, 2021 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ 12,092 $ (1,070) $ 11,022 Other comprehensive (loss) income before reclassifications (3,687) (649) (4,336) Amounts reclassified out of accumulated other comprehensive income 3 911 914 Other comprehensive (loss) income (3,684) 262 (3,422) Ending balance $ 8,408 $ (808) $ 7,600
Schedule of Reclassifications Out of Other Comprehensive Income	The following table presents reclassifications out of accumulated other comprehensive (loss) income for the quarters and six-month periods ended June 30, 2022 and 2021: Amount reclassified out of accumulated other comprehensive (loss) income quarter ended June 30, Affected Line Item in 2022 2021 (In thousands) Cash flow hedges: Interest-rate contracts $ 184 $ 452 Net interest expense Available-for-sale securities: Tax effect from changes in tax rates 2 1 Income tax expense $ 186 $ 453 Amount reclassified out of accumulated other comprehensive (loss) income six-month period ended June 30, Affected Line Item in 2022 2021 (In thousands) Cash flow hedges: Interest-rate contracts $ 377 $ 911 Net interest expense Available-for-sale securities: Tax effect from changes in tax rates 4 3 Income tax expense $ 381 $ 914

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	6 Months Ended
EARNINGS PER COMMON SHARE (Tables)	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The calculation of earnings per common share for the quarters and six-month periods ended June 30, 2022 and 2021 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands, except per share data) Net income $ 40,432 $ 40,827 $ 77,953 $ 71,200 Less: Dividends on preferred stock Non-convertible preferred stock (Series A, B, and D) — — — (1,255) Income available to common shareholders $ 40,432 $ 40,827 $ 77,953 $ 69,945 Average common shares outstanding 48,053 51,636 48,508 51,517 Effect of dilutive securities: Average potential common shares-options 336 412 425 368 Total weighted average common shares outstanding and equivalents 48,389 52,048 48,933 51,885 Earnings per common share - basic $ 0.84 $ 0.79 $ 1.61 $ 1.36 Earnings per common share - diluted $ 0.84 $ 0.78 $ 1.59 $ 1.35

GUARANTEES (Tables)

GUARANTEES (Tables)	6 Months Ended
GUARANTEES (Tables)	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) Balance at beginning of period $ 294 $ 195 $ 205 $ 218 Net recoveries (charge-offs/terminations) (120) 10 (31) (13) Balance at end of period $ 174 $ 205 $ 174 $ 205

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Credit-Related Financial Instruments	Credit-related financial instruments at June 30, 2022 and December 31, 2021 were as follows: June 30, December 31, 2022 2021 (In thousands) Commitments to extend credit $ 1,366,552 $ 1,365,273 Commercial letters of credit 3,230 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 June 30, 2022 and December 31, 2021, is as follows: June 30, December 31, 2022 2021 (In thousands) Standby letters of credit and financial guarantees $ 28,728 $ 25,203 Loans sold with recourse 115,638 121,778

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	6 Months Ended
OPERATING LEASES (Tables)	Jun. 30, 2022
Lessee Disclosure [Abstract]
Schedule of Operating Lease Cost	Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 Statement of Operations (In thousands) Lease costs $ 2,663 $ 2,851 $ 5,218 $ 6,224 Occupancy and equipment Variable lease costs 285 495 832 988 Occupancy and equipment Short-term lease cost 282 126 537 146 Occupancy and equipment Lease income (53) (112) (129) (232) Occupancy and equipment Total lease cost $ 3,177 $ 3,360 $ 6,458 $ 7,126
Schedule of Operating Lease Assets and Liabilities	June 30, December 31, 2022 2021 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 27,699 $ 28,846 Operating lease right-of-use assets Lease Liabilities $ 29,538 $ 30,498 Operating leases liabilities
Schedule of Operating Lease, Other Information	June 30, 2022 (In thousands) Weighted-average remaining lease term 5.3 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 June 30, 2022 were as follows: Minimum Rent As of June 30, 2022 (In thousands) 2022 $ 4,733 2023 8,771 2024 6,441 2025 4,612 2026 3,033 Thereafter 7,923 Total lease payments $ 35,513 Less imputed interest 5,975 Present value of lease liabilities $ 29,538

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Jun. 30, 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: June 30, 2022 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 10,733 $ 1,147,256 $ 1,581 $ 1,159,570 Trading securities — 13 — 13 Money market investments 4,913 — — 4,913 Derivative assets — 187 — 187 Servicing assets — — 49,280 49,280 Derivative liabilities — (21) — (21) $ 15,646 $ 1,147,435 $ 50,861 $ 1,213,942 Non-recurring fair value measurements: Collateral dependent loans — — 21,565 21,565 Foreclosed real estate — — 15,061 15,061 Other repossessed assets — — 2,533 2,533 $ — $ — $ 39,159 $ 39,159 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 tables below present a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarters and six-month periods ended June 30, 2022 and 2021: Level 3 Instruments Only Quarter Ended June 30, 2022 2021 Other debt securities available for sale Servicing Assets Total Servicing Assets (In thousands) Balance at beginning period $ 1,554 $ 49,446 $ 51,000 $ 47,911 New instruments acquired — 1,150 1,150 2,023 Principal repayments and amortization — (1,478) (1,478) (1,862) Gains (losses) included in earnings — 162 162 (360) Gains included in other comprehensive income 27 — 27 — Balance at end of period $ 1,581 $ 49,280 $ 50,861 $ 47,712 Other debt securities available for sale Servicing Assets Total Servicing Assets Six-Month Period Ended June 30, 2022 2021 (In thousands) Balance at beginning year $ 1,530 $ 48,973 $ 50,503 $ 47,295 New instruments acquired — 2,269 2,269 3,443 Principal repayments and amortization — (2,977) (2,977) (3,369) Gains included in earnings — 1,015 1,015 343 Gains included in other comprehensive income 51 — 51 — Balance at end of year $ 1,581 $ 49,280 $ 50,861 $ 47,712
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 June 30, 2022: June 30, 2022 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Other debt securities available-for-sale $ 1,581 Cash flow valuation Credit Rating Baa1 - Baa3 Baa2 Probability of Default Rate 0.15% - 2.12% 0.15 % Recovery Rate 33.08 % 33.08 % Servicing assets $ 49,280 Cash flow valuation Constant prepayment rate 3.60% - 22.71% 5.90 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 21,565 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.16 % Foreclosed real estate $ 15,061 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 11.69 % Other repossessed assets $ 2,533 Fair value of property Estimated net realizable value less disposition costs 20.00% - 90.00% 61.76 %
Schedule of Estimated Fair Value and Carrying Value	The estimated fair value and carrying value of OFG’s financial instruments at June 30, 2022 and December 31, 2021 is as follows: June 30, December 31, 2022 2021 Fair Carrying Fair Carrying (In thousands) Level 1 Financial Assets: Cash and cash equivalents $ 1,307,112 $ 1,307,112 $ 2,023,475 $ 2,023,475 Restricted cash $ 169 $ 169 $ 175 $ 175 Investment securities available-for-sale $ 10,733 $ 10,733 $ 10,825 $ 10,825 Level 2 Financial Assets: Trading securities $ 13 $ 13 $ 20 $ 20 Investment securities available-for-sale $ 1,147,256 $ 1,147,256 $ 498,358 $ 498,358 Investment securities held-to-maturity $ 501,747 $ 547,832 $ 363,653 $ 367,507 Federal Home Loan Bank (FHLB) stock $ 6,047 $ 6,047 $ 5,966 $ 5,966 Equity securities $ 13,801 $ 13,801 $ 11,612 $ 11,612 Derivative assets $ 187 $ 187 $ 1 $ 1 Financial Liabilities: Derivative liabilities $ 21 $ 21 $ 804 $ 804 Level 3 Financial Assets: Investment securities available for sale $ 1,581 $ 1,581 $ 1,530 $ 1,530 Total loans (including loans held-for-sale) $ 6,517,268 $ 6,585,210 $ 6,197,347 $ 6,329,311 Accrued interest receivable $ 58,371 $ 58,371 $ 56,560 $ 56,560 Servicing assets $ 49,280 $ 49,280 $ 48,973 $ 48,973 Accounts receivable and other assets $ 86,225 $ 86,225 $ 88,756 $ 88,756 Financial Liabilities: Deposits $ 9,032,247 $ 9,029,570 $ 8,614,073 $ 8,603,118 Advances from FHLB $ 27,557 $ 27,586 $ 28,480 $ 28,488 Other borrowings $ 32 $ 32 $ — $ — Subordinated capital notes $ — $ — $ 36,084 $ 36,083 Accrued expenses and other liabilities $ 119,065 $ 119,065 $ 96,240 $ 96,240

BANKING AND FINANCIAL SERVICE_2

BANKING AND FINANCIAL SERVICE REVENUES (Tables)	6 Months Ended
BANKING AND FINANCIAL SERVICE REVENUES (Tables)	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, Six-Month Period Ended June 30, 2022 2021 2022 2021 (In thousands) (In thousands) Banking service revenues: Checking accounts fees $ 2,225 $ 2,082 $ 4,370 $ 4,044 Savings accounts fees 326 297 605 549 Electronic banking fees 14,080 14,638 27,174 27,521 Credit life commissions 291 70 595 187 Branch service commissions 300 275 660 636 Servicing and other loan fees 669 720 1,806 1,485 International fees 246 154 485 305 Miscellaneous income 4 15 8 21 Total banking service revenues 18,141 18,251 35,703 34,748 Wealth management revenue: Insurance income 3,818 2,995 6,852 5,226 Broker fees 1,714 2,328 3,603 4,452 Trust fees 2,566 2,717 5,307 5,499 Retirement plan and administration fees 172 223 365 474 Total wealth management revenue 8,270 8,263 16,127 15,651 Mortgage banking activities: Net servicing fees 3,839 3,127 8,202 7,477 Net gains on sale of mortgage loans and valuation 993 2,931 2,308 5,423 Other (29) (1,518) 75 (2,787) Total mortgage banking activities 4,803 4,540 10,585 10,113 Total banking and financial service revenues $ 31,214 $ 31,054 $ 62,415 $ 60,512

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
BUSINESS SEGMENTS (Tables)	Jun. 30, 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 and six-month periods ended June 30, 2022 and 2021: Quarter Ended June 30, 2022 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 109,292 $ 5 $ 12,925 $ 122,222 $ — $ 122,222 Interest expense (6,280) — (848) (7,128) — (7,128) Net interest income 103,012 5 12,077 115,094 — 115,094 Provision for credit losses 6,634 — 57 6,691 — 6,691 Non-interest income 27,802 8,408 — 36,210 — 36,210 Non-interest expenses (79,656) (4,795) (807) (85,258) — (85,258) Intersegment revenue 543 — — 543 (543) — Intersegment expenses — (376) (167) (543) 543 — Income before income taxes 45,067 3,242 11,046 59,355 — 59,355 Income tax expense 18,580 — 343 18,923 — 18,923 Net income $ 26,487 $ 3,242 $ 10,703 $ 40,432 $ — $ 40,432 Total assets $ 8,235,814 $ 28,240 $ 2,997,323 $ 11,261,377 $ (1,013,603) $ 10,247,774 Six-Month Period Ended June 30, 2022 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 216,115 $ 10 $ 19,046 $ 235,171 $ — $ 235,171 Interest expense (13,651) — (1,232) (14,883) — (14,883) Net interest income 202,464 10 17,814 220,288 — 220,288 Provision for (recapture of) credit losses 8,344 — (102) 8,242 — 8,242 Non-interest income 51,352 16,414 50 67,816 — 67,816 Non-interest expenses (155,447) (9,380) (1,586) (166,413) — (166,413) Intersegment revenue 1,057 — — 1,057 (1,057) — Intersegment expenses — (719) (338) (1,057) 1,057 — Income before income taxes $ 91,082 $ 6,325 $ 16,042 $ 113,449 $ — $ 113,449 Income tax expense 35,062 — 434 35,496 — 35,496 Net income $ 56,020 $ 6,325 $ 15,608 $ 77,953 $ — $ 77,953 Total assets $ 8,235,814 $ 28,240 $ 2,997,323 $ 11,261,377 $ (1,013,603) $ 10,247,774 Quarter Ended June 30, 2021 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 110,446 $ 6 $ 3,005 $ 113,457 $ — $ 113,457 Interest expense (10,712) — (494) (11,206) — (11,206) Net interest income 99,734 6 2,511 102,251 — 102,251 Provision for (recapture of) credit losses (7,737) — (568) (8,305) — (8,305) Non-interest income 24,215 7,974 8 32,197 — 32,197 Non-interest expenses (76,623) (5,015) (1,038) (82,676) — (82,676) Intersegment revenue 545 — — 545 (545) — Intersegment expenses — (302) (243) (545) 545 — Income before income taxes 55,608 2,663 1,806 60,077 — 60,077 Income tax expense 19,239 — 11 19,250 — 19,250 Net income $ 36,369 $ 2,663 $ 1,795 $ 40,827 $ — $ 40,827 Total assets $ 8,271,348 $ 31,165 $ 3,232,968 $ 11,535,481 $ (1,073,668) $ 10,461,813 Six-Month Period Ended June 30, 2021 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 218,676 $ 18 $ 5,739 $ 224,433 $ — $ 224,433 Interest expense (22,848) — (1,136) (23,984) — (23,984) Net interest income 195,828 18 4,603 200,449 — 200,449 Provision for credit losses (1,149) — (832) (1,981) — (1,981) Non-interest income 47,088 15,505 17 62,610 — 62,610 Non-interest expenses (150,497) (7,844) (2,001) (160,342) — (160,342) Intersegment revenue 1,098 — — 1,098 (1,098) — Intersegment expenses — (593) (505) (1,098) 1,098 — Income before income taxes $ 94,666 $ 7,086 $ 2,946 $ 104,698 $ — $ 104,698 Income tax expense 33,475 — 23 33,498 — 33,498 Net income $ 61,191 $ 7,086 $ 2,923 $ 71,200 $ — $ 71,200 Total assets $ 8,271,348 $ 31,165 $ 3,232,968 $ 11,535,481 $ (1,073,668) $ 10,461,813

RESTRICTED CASH (Narrative) (De

RESTRICTED CASH (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 169	$ 175	$ 199
Reserve required by local government	488,300	456,500
Securities Sold under Agreements to Repurchase
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 169	$ 175

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Money market investments	$ 4,913	$ 11,206	$ 8,952
Restricted cash	169	199	175
Securitized GNMA pools retained, amortized cost	$ 53,500	$ 84,000
Securitized GNMA pool retained, yield	3.11%	2.66%
12 months or more	$ 74,480		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	231,800		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	$ 231,300		$ 143,800

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - AFS) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Amortized Cost	$ 1,217,883	$ 503,421
Gross Unrealized Gains	1,683	10,692
Gross Unrealized Losses	59,996	3,400
Fair Value	$ 1,159,570	$ 510,713
Weighted Average Yield	2.64%	2.05%
Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,204,851	$ 489,155
Gross Unrealized Gains	1,602	10,555
Gross Unrealized Losses	59,994	3,400
Fair Value	$ 1,146,459	$ 496,310
Weighted Average Yield	2.64%	2.05%
Mortgage-backed securities \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 873,817	$ 184,000
Gross Unrealized Gains	948	2,502
Gross Unrealized Losses	35,303	3,200
Fair Value	$ 839,462	$ 183,302
Weighted Average Yield	2.74%	1.65%
Mortgage-backed securities \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 311,911	$ 281,061
Gross Unrealized Gains	654	7,716
Gross Unrealized Losses	24,208	199
Fair Value	$ 288,357	$ 288,578
Weighted Average Yield	2.44%	2.32%
Mortgage-backed securities \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 19,123	$ 24,094
Gross Unrealized Gains	0	337
Gross Unrealized Losses	483	1
Fair Value	$ 18,640	$ 24,430
Weighted Average Yield	1.97%	1.96%
Mortgage-backed securities \| Due from 1 to 5 years \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 1,759
Gross Unrealized Gains	0
Gross Unrealized Losses	31
Fair Value	$ 1,728
Weighted Average Yield	2.12%
Mortgage-backed securities \| Due from 1 to 5 years \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 15,130	$ 10,536
Gross Unrealized Gains	0	233
Gross Unrealized Losses	431	1
Fair Value	$ 14,699	$ 10,768
Weighted Average Yield	1.63%	1.66%
Mortgage-backed securities \| Due from 1 to 5 years \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 14,809	$ 1,788
Gross Unrealized Gains	0	22
Gross Unrealized Losses	391	0
Fair Value	$ 14,418	$ 1,810
Weighted Average Yield	1.79%	1.70%
Mortgage-backed securities \| Due from 5 to 10 years \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 76,908	$ 90,560
Gross Unrealized Gains	0	2,502
Gross Unrealized Losses	2,005	0
Fair Value	$ 74,903	$ 93,062
Weighted Average Yield	1.95%	1.94%
Mortgage-backed securities \| Due from 5 to 10 years \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 28,190	$ 26,419
Gross Unrealized Gains	38	556
Gross Unrealized Losses	997	0
Fair Value	$ 27,231	$ 26,975
Weighted Average Yield	2.03%	1.80%
Mortgage-backed securities \| Due from 5 to 10 years \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 3,223	$ 20,705
Gross Unrealized Gains	0	299
Gross Unrealized Losses	79	0
Fair Value	$ 3,144	$ 21,004
Weighted Average Yield	1.82%	1.81%
Mortgage-backed securities \| Due after 10 years \| FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 795,150	$ 93,440
Gross Unrealized Gains	948	0
Gross Unrealized Losses	33,267	3,200
Fair Value	$ 762,831	$ 90,240
Weighted Average Yield	2.82%	1.37%
Mortgage-backed securities \| Due after 10 years \| GNMA Securities
Schedule of Investments [Line Items]
Amortized Cost	$ 268,591	$ 244,106
Gross Unrealized Gains	616	6,927
Gross Unrealized Losses	22,780	198
Fair Value	$ 246,427	$ 250,835
Weighted Average Yield	2.52%	2.40%
Mortgage-backed securities \| Due after 10 years \| CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 1,091	$ 1,601
Gross Unrealized Gains	0	16
Gross Unrealized Losses	13	1
Fair Value	$ 1,078	$ 1,616
Weighted Average Yield	4.88%	4.24%
Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 13,032	$ 14,266
Gross Unrealized Gains	81	137
Gross Unrealized Losses	2	0
Fair Value	$ 13,111	$ 14,403
Weighted Average Yield	2.04%	1.95%
Investment securities \| Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 2,298	$ 2,347
Gross Unrealized Gains	81	48
Gross Unrealized Losses	1	0
Fair Value	$ 2,378	$ 2,395
Weighted Average Yield	4.43%	4.39%
Investment securities \| Due less than 1 year \| US Treasury securities
Schedule of Investments [Line Items]
Amortized Cost	$ 10,734	$ 10,737
Gross Unrealized Gains	0	88
Gross Unrealized Losses	1	0
Fair Value	$ 10,733	$ 10,825
Weighted Average Yield	1.53%	1.48%
Investment securities \| Due less than 1 year \| 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 \| Due less than 1 year \| Other debt securities
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 \| Due from 1 to 5 years \| Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,798	$ 1,847
Gross Unrealized Gains	81	48
Gross Unrealized Losses	1	0
Fair Value	$ 1,878	$ 1,895
Weighted Average Yield	5.50%	5.43%

INVESTMENT SECURITIES (Invest_2

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - HTM) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 547,832	$ 367,507
Gross Unrealized Gains	1,543
Gross Unrealized Losses	47,628
Fair Value	$ 501,747	363,653
Weighted Average Yield	2.30%
Due after 10 years \| Mortgage-backed securities \| FNMA and FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 351,016	367,507
Gross Unrealized Gains	0	0
Gross Unrealized Losses	47,628	3,854
Fair Value	$ 303,388	$ 363,653
Weighted Average Yield	1.70%	1.71%
Due from 1 to 5 years \| Investment securities \| US Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 196,816
Gross Unrealized Gains	1,543
Gross Unrealized Losses	0
Fair Value	$ 198,359
Weighted Average Yield	3.36%

INVESTMENT SECURITIES (Unrealiz

INVESTMENT SECURITIES (Unrealized Gains and Losses by Category) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Securities Available-for-Sale, Amortized Cost
12 months or more	$ 89,832
Less than 12 months	967,864	$ 98,962
Total	1,057,696
Securities Available-for-Sale, Unrealized Loss
12 months or more	15,352
Less than 12 months	44,644	3,400
Total	59,996
Securities Available-for-Sale, Fair Value
12 months or more	74,480	0
Less than 12 months	923,220	95,562
Total	997,700
CMOs issued by US Government-sponsored agencies
Securities Available-for-Sale, Amortized Cost
Less than 12 months	19,123	500
Total	19,123
Securities Available-for-Sale, Unrealized Loss
Less than 12 months	483	1
Total	483
Securities Available-for-Sale, Fair Value
Less than 12 months	18,640	499
Total	18,640
FNMA and FHLMC certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	89,333
Less than 12 months	664,722	93,440
Total	754,055
Held-to-Maturity, Amortized Cost
Less than 12 months	351,016	367,507
Total	351,016
Securities Available-for-Sale, Unrealized Loss
12 months or more	15,279
Less than 12 months	20,024	3,200
Total	35,303
Held-to-Maturity, Unrealized Loss
Less than 12 months	47,628	3,854
Total	47,628
Securities Available-for-Sale, Fair Value
12 months or more	74,054
Less than 12 months	644,698	90,240
Total	718,752
Held-to-Maturity, Fair Value
Fair Value	303,388	363,653
Total	303,388
GNMA Securities
Securities Available-for-Sale, Amortized Cost
12 months or more	499
Less than 12 months	282,987	5,022
Total	283,486
Securities Available-for-Sale, Unrealized Loss
12 months or more	73
Less than 12 months	24,135	199
Total	24,208
Securities Available-for-Sale, Fair Value
12 months or more	426
Less than 12 months	258,852	$ 4,823
Total	259,278
US Treasury securities
Securities Available-for-Sale, Amortized Cost
Less than 12 months	734
Total	734
Securities Available-for-Sale, Unrealized Loss
Less than 12 months	1
Total	1
Securities Available-for-Sale, Fair Value
Less than 12 months	733
Total	733
Other debt securities
Securities Available-for-Sale, Amortized Cost
Less than 12 months	298
Total	298
Securities Available-for-Sale, Unrealized Loss
Less than 12 months	1
Total	1
Securities Available-for-Sale, Fair Value
Less than 12 months	297
Total	$ 297

LOANS (Composition of Loan Port

LOANS (Composition of Loan Portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	$ 6,702,661		$ 6,402,586
Allowance for credit losses	(159,039)		(155,937)	$ (191,717)
Total loans held for investment, net	6,543,622		6,246,649
Total loans held for sale	41,588		82,662
Total loans	6,585,210		6,329,311
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	2,595,867		2,379,330
Allowance for credit losses	(44,441)			(56,279)
Total loans held for sale	14,641		31,566
Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,807,852		1,907,271
Allowance for credit losses	(24,447)			(46,476)
Total loans held for sale	26,947		51,096
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	499,102		409,675
Allowance for credit losses	(23,129)			(19,103)
Auto and leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,799,840		1,706,310
Allowance for credit losses	(67,022)			(69,859)
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	5,419,796		4,995,631
Allowance for credit losses	(143,896)	$ (137,344)	(132,065)	(148,314)	$ (156,978)	$ (161,015)
Total loans held for investment, net	5,275,900		4,863,566
Total loans held for sale	41,588		82,662
Total loans	5,317,488		4,946,228
Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	2,421,585		2,174,995
Allowance for credit losses	(42,014)	(37,097)	(32,262)	(43,523)	(47,683)	(45,779)
Total loans held for sale	14,641		31,566
Non-PCD \| Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	708,755		718,848
Allowance for credit losses	(11,906)	(14,952)	(15,299)	(16,368)	(17,035)	(19,687)
Total loans held for sale	26,947		51,096
Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	498,404		408,759
Allowance for credit losses	(23,109)	(21,100)	(19,141)	(19,065)	(21,191)	(25,253)
Non-PCD \| Auto and leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,791,052		1,693,029
Allowance for credit losses	(66,867)	(64,195)	(65,363)	(69,358)	(71,069)	(70,296)
PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,282,865		1,406,955
Allowance for credit losses	(15,143)	(19,731)	(23,872)	(43,403)	(44,995)	(43,794)
Total loans held for investment, net	1,267,722		1,383,083
Total loans held for sale	0		0
Total loans	1,267,722		1,383,083
PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	174,282		204,335
Allowance for credit losses	(2,427)	(3,622)	(4,508)	(12,756)	(14,306)	(16,405)
Total loans held for sale	0		0
PCD \| Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,099,097		1,188,423
Allowance for credit losses	(12,541)	(15,881)	(19,018)	(30,108)	(29,939)	(26,389)
Total loans held for sale	0		0
PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	698		916
Allowance for credit losses	(20)	(31)	(34)	(38)	(52)	(57)
PCD \| Auto and leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	8,788		13,281
Allowance for credit losses	(155)	$ (197)	(312)	$ (501)	$ (698)	$ (943)
Commercial secured by real estate \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	1,079,527		1,060,180
Commercial secured by real estate \| Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	932,165		883,994
Commercial secured by real estate \| PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	147,362		176,186
Other commercial and industrial \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	859,229		787,321
Other commercial and industrial \| Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	832,309		759,172
Other commercial and industrial \| PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	26,920		28,149
Other commercial and industrial - Paycheck Protection Program (PPP Loans) \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	33,304		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	33,304		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	623,807		444,940
US commercial loans \| Non-PCD \| Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	623,807		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	440,821		347,405
Personal loans \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	440,419		346,859
Personal loans \| PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	402		546
Credit lines \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	13,893		15,145
Credit lines \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	13,597		14,775
Credit lines \| PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	296		370
Credit cards \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	44,074		46,795
Credit cards \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	44,074		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	314		330
Overdraft \| Non-PCD \| Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, gross	314		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	6 Months Ended
LOANS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 6,702,661	$ 6,402,586
Troubled debt restructurings	173,427	150,426
Loan deferral amount, pandemic related	9,700	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	70,100	37,500
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	5,419,796	4,995,631
Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings	149,996	125,887
Mortgage Loans - GNMA Buy-Back Option Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans	33,400	14,500
Past due \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	199,224	185,137
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,595,867	2,379,330
Troubled debt restructurings	55,158	35,839
Commitment to lend additional funds	2,700	3,700
Commercial loans \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	2,421,585	2,174,995
Commercial loans \| Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings	40,722	20,922
Commercial loans \| Puerto Rico \| Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	86,300	87,300
Commercial loans \| Puerto Rico \| Government \| Property Tax Revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	86,300	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	13,244	14,128
Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	1,807,852	1,907,271
Troubled debt restructurings	115,639	110,962
Mortgage \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	708,755	718,848
Mortgage \| Government Guaranteed Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings	47,700	40,800
Mortgage \| Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings	106,658	101,487
Mortgage \| Past due \| Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	69,606	$ 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	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Total Loans	$ 6,702,661	$ 6,402,586
Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,419,796	4,995,631
Loans 90+ Days Past Due and Still Accruing	1,301	2,346
30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	78,903	76,491
60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	40,204	40,351
90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	80,117	68,295
Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	199,224	185,137
Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,220,572	4,810,494
Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	2,595,867	2,379,330
Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,421,585	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	3,010	4,096
Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,991	640
Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	7,243	9,392
Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,244	14,128
Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,408,341	2,160,867
Mortgage
Financing Receivable, Past Due [Line Items]
Total Loans	1,807,852	1,907,271
Mortgage \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	708,755	718,848
Loans 90+ Days Past Due and Still Accruing	1,301	2,346
Mortgage \| 30-59 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,995	8,704
Mortgage \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,942	7,855
Mortgage \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	55,669	43,468
Mortgage \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	69,606	60,027
Mortgage \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	639,149	658,821
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	499,102	409,675
Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	498,404	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	5,299	3,653
Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,463	1,622
Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,975	1,974
Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	9,737	7,249
Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	488,667	401,510
Auto and leasing
Financing Receivable, Past Due [Line Items]
Total Loans	1,799,840	1,706,310
Auto and leasing \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,791,052	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	63,599	60,038
Auto and leasing \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	27,808	30,234
Auto and leasing \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	15,230	13,461
Auto and leasing \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	106,637	103,733
Auto and leasing \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,684,415	1,589,296
Commercial secured by real estate \| Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	1,079,527	1,060,180
Commercial secured by real estate \| Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	932,165	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	1,529	2,210
Commercial secured by real estate \| Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,903	102
Commercial secured by real estate \| Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,502	8,446
Commercial secured by real estate \| Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	10,934	10,758
Commercial secured by real estate \| Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	921,231	873,236
Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	865,613	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	1,481	1,886
Other commercial and industrial \| Commercial \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	88	538
Other commercial and industrial \| Commercial \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	741	946
Other commercial and industrial \| Commercial \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,310	3,370
Other commercial and industrial \| Commercial \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	863,303	842,691
US commercial loans \| Commercial
Financing Receivable, Past Due [Line Items]
Total Loans	623,807	444,940
US commercial loans \| Commercial \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	623,807	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	623,807	444,940
Personal loans \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	440,821	347,405
Personal loans \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	440,419	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	4,279	2,382
Personal loans \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,951	1,131
Personal loans \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,207	1,116
Personal loans \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	7,437	4,629
Personal loans \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	432,982	342,230
Credit lines \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	13,893	15,145
Credit lines \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,597	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	261	531
Credit lines \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	150	141
Credit lines \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	164	227
Credit lines \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	575	899
Credit lines \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	13,022	13,876
Credit cards \| Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	44,074	46,795
Credit cards \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	44,074	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	702	610
Credit cards \| Consumer \| 60-89 Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	362	336
Credit cards \| Consumer \| 90+ Days Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	604	631
Credit cards \| Consumer \| Total Past Due \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,668	1,577
Credit cards \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	42,406	45,218
Overdraft \| Consumer \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	314	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	57	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	57	144
Overdraft \| Consumer \| Current \| Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	$ 257	$ 186

LOANS (Investment in Loans on N

LOANS (Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	$ 63,484	$ 62,480
Non-accrual with no Allowance for Credit Loss	34,737	39,403
Total	98,221	101,883
Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	59,817	55,839
Non-accrual with no Allowance for Credit Loss	28,086	33,165
Total	87,903	89,004
PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,667	6,641
Non-accrual with no Allowance for Credit Loss	6,651	6,238
Total	10,318	12,879
Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	28,778	17,583
Non-accrual with no Allowance for Credit Loss	18,428	20,021
Total	47,206	37,604
Commercial \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,406	6,307
Non-accrual with no Allowance for Credit Loss	6,651	6,238
Total	10,057	12,545
Mortgage \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	14,062	16,428
Non-accrual with no Allowance for Credit Loss	9,319	12,840
Total	23,381	29,268
Mortgage \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	261	334
Non-accrual with no Allowance for Credit Loss	0	0
Total	261	334
Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,649	2,001
Non-accrual with no Allowance for Credit Loss	338	302
Total	1,987	2,303
Auto and leasing \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	15,328	19,827
Non-accrual with no Allowance for Credit Loss	1	2
Total	15,329	19,829
Commercial secured by real estate \| Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	17,088	16,299
Non-accrual with no Allowance for Credit Loss	18,134	19,538
Total	35,222	35,837
Commercial secured by real estate \| Commercial \| PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,406	5,205
Non-accrual with no Allowance for Credit Loss	6,611	6,198
Total	10,017	11,403
Other commercial and industrial \| Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,698	1,284
Non-accrual with no Allowance for Credit Loss	294	483
Total	2,992	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
US commercial loans \| Commercial \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	8,992	0
Non-accrual with no Allowance for Credit Loss	0	0
Total	8,992	0
Personal loans \| Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	882	1,143
Non-accrual with no Allowance for Credit Loss	338	302
Total	1,220	1,445
Personal lines of credit \| Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	164	226
Non-accrual with no Allowance for Credit Loss	0	0
Total	164	226
Credit cards \| Consumer \| Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	603	632
Non-accrual with no Allowance for Credit Loss	0	0
Total	$ 603	$ 632

LOANS (Troubled-Debt Restructur

LOANS (Troubled-Debt Restructuring Loan Portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 173,427	$ 150,426
Related Allowance	3,756	4,406
Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	149,996	125,887
Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	23,431	24,539
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	55,158	35,839
Related Allowance	524	369
Commercial loans \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	40,722	20,922
Commercial loans \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	14,436	14,917
Commercial loans \| Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	45,020	25,425
Related Allowance	273	202
Commercial loans \| Commercial secured by real estate \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	30,987	10,981
Commercial loans \| Commercial secured by real estate \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	14,033	14,444
Commercial loans \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,935	3,258
Related Allowance	54	41
Commercial loans \| Other commercial and industrial \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,532	2,785
Commercial loans \| Other commercial and industrial \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	403	473
Commercial loans \| US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,203	7,156
Related Allowance	197	126
Commercial loans \| US commercial loans \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,203	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	115,639	110,962
Related Allowance	3,106	3,867
Mortgage \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	106,658	101,487
Mortgage \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,981	9,475
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,532	3,414
Related Allowance	122	159
Consumer \| Personal loans \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,519	3,275
Consumer \| Personal loans \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	13	139
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	98	211
Related Allowance	4	11
Auto and leasing \| Accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	97	203
Auto and leasing \| Non-accruing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 1	$ 8

LOANS (Troubled-Debt Restruct_2

LOANS (Troubled-Debt Restructurings By Loan Portfolio And Modification Type) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 173,427	$ 150,426
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	55,158	35,839
Commercial \| Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	45,020	25,425
Commercial \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,935	3,258
Commercial \| US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,203	7,156
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	115,639	110,962
Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	2,532	3,414
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	98	211
Reduction in interest rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	54,039	55,217
Reduction in interest rate \| Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	16,114	16,340
Reduction in interest rate \| Commercial \| Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,093	8,461
Reduction in interest rate \| Commercial \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	818	723
Reduction in interest rate \| Commercial \| US commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	7,203	7,156
Reduction in interest rate \| Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	36,793	37,307
Reduction in interest rate \| Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,088	1,496
Reduction in interest rate \| Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	44	74
Maturity or term extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	35,328	10,295
Maturity or term extension \| Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	27,377	3,212
Maturity or term extension \| Commercial \| Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	25,777	1,227
Maturity or term extension \| Commercial \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,600	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	7,747	6,796
Maturity or term extension \| Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	204	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	47,110	46,837
Combination of reduction in interest rate and extension of maturity \| Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	8,440	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	7,947	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	493	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	37,519	32,456
Combination of reduction in interest rate and extension of maturity \| Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	1,126	1,430
Combination of reduction in interest rate and extension of maturity \| Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	25	28
Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	36,950	38,077
Forbearance \| Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,227	3,364
Forbearance \| Commercial \| Commercial secured by real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	3,203	3,336
Forbearance \| Commercial \| Other commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	24	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	33,580	34,403
Forbearance \| Consumer \| Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	114	201
Forbearance \| Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total	$ 29	$ 109

LOANS (TDR Pre_Post Modificatio

LOANS (TDR Pre/Post Modifications) (Details) $ in Thousands	3 Months Ended		6 Months Ended
LOANS (TDR Pre/Post Modifications) (Details) $ in Thousands	Jun. 30, 2022 USD ($) contract	Jun. 30, 2021 USD ($) contract	Jun. 30, 2022 USD ($) contract	Jun. 30, 2021 USD ($) contract
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract	36	44	72	70
Pre-Modification Outstanding Recorded Investment	$ 4,333	$ 5,104	$ 9,033	$ 8,661
Pre-Modification Weighted Average Rate	4.58%	4.24%	4.55%	4.14%
Pre-Modification Weighted Average Term (in Months)	267 months	303 months	270 months	302 months
Post-Modification Outstanding Recorded Investment	$ 4,608	$ 4,880	$ 9,471	$ 8,460
Post-Modification Weighted Average Rate	3.68%	3.59%	3.57%	3.60%
Post-Modification Weighted Average Term (in Months)	344 months	349 months	343 months	342 months
Commercial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract	2	1	4	3
Pre-Modification Outstanding Recorded Investment	$ 37,808	$ 991	$ 38,703	$ 1,176
Pre-Modification Weighted Average Rate	3.51%	4.25%	3.56%	4.72%
Pre-Modification Weighted Average Term (in Months)	133 months	175 months	131 months	157 months
Post-Modification Outstanding Recorded Investment	$ 37,808	$ 880	$ 38,560	$ 1,085
Post-Modification Weighted Average Rate	3.61%	5.75%	3.63%	5.95%
Post-Modification Weighted Average Term (in Months)	187 months	60 months	184 months	60 months
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract	1	7	2	9
Pre-Modification Outstanding Recorded Investment	$ 9	$ 139	$ 22	$ 155
Pre-Modification Weighted Average Rate	20.95%	12.76%	19.27%	12.65%
Pre-Modification Weighted Average Term (in Months)	72 months	72 months	79 months	70 months
Post-Modification Outstanding Recorded Investment	$ 9	$ 139	$ 22	$ 156
Post-Modification Weighted Average Rate	10.95%	9.47%	10.95%	9.52%
Post-Modification Weighted Average Term (in Months)	72 months	76 months	79 months	75 months
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts \| contract		3		8
Pre-Modification Outstanding Recorded Investment		$ 44		$ 126
Pre-Modification Weighted Average Rate		13.15%		9.04%
Pre-Modification Weighted Average Term (in Months)		78 months		70 months
Post-Modification Outstanding Recorded Investment		$ 44		$ 126
Post-Modification Weighted Average Rate		10.15%		9.93%
Post-Modification Weighted Average Term (in Months)		73 months		49 months

LOANS (Troubled Debt Restructur

LOANS (Troubled Debt Restructurings, Rolling Twelve Months) (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($) contract	Jun. 30, 2021 USD ($) contract
Mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	7	19
Recorded Investment \| $	$ 800	$ 2,191
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	3	1
Recorded Investment \| $	$ 47	$ 14
Auto and leasing
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	0	11
Recorded Investment \| $	$ 0	$ 64

LOANS (Aging of the Amortized C

LOANS (Aging of the Amortized Cost of Collateral-Dependent Loans Held For Investment) (Details) - USD ($) $ in Thousands	Jun. 30, 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	$ 21,565	$ 10,233

LOANS (Credit Quality Indicator

LOANS (Credit Quality Indicators of Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 6,702,661	$ 6,402,586
Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total	5,419,796	4,995,631
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	2,595,867	2,379,330
Commercial \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	248,709	554,638
Term loans amortized by cost basis, in one year prior to current fiscal year	500,036	294,311
Term loans amortized by cost basis, in two years prior to current fiscal year	279,035	244,490
Term loans amortized by cost basis, in three years prior to current fiscal year	222,288	236,815
Term loans amortized by cost basis, in four years prior to current fiscal year	198,481	67,561
Prior	224,830	211,737
Revolving Loans Amortized Cost Basis	748,206	565,443
Total	2,421,585	2,174,995
Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,807,852	1,907,271
Mortgage \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total	708,755	718,848
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	499,102	409,675
Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	180,749	175,569
Term loans amortized by cost basis, in one year prior to current fiscal year	142,599	56,199
Term loans amortized by cost basis, in two years prior to current fiscal year	41,079	65,836
Term loans amortized by cost basis, in three years prior to current fiscal year	45,608	29,951
Term loans amortized by cost basis, in four years prior to current fiscal year	19,586	12,307
Prior	10,798	6,997
Revolving Loans Amortized Cost Basis	57,985	61,900
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	498,404	408,759
Auto and leasing
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,799,840	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	332,551	567,948
Term loans amortized by cost basis, in one year prior to current fiscal year	541,058	353,141
Term loans amortized by cost basis, in two years prior to current fiscal year	304,243	330,287
Term loans amortized by cost basis, in three years prior to current fiscal year	276,039	242,752
Term loans amortized by cost basis, in four years prior to current fiscal year	196,632	123,506
Prior	140,529	75,395
Total	1,791,052	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	78,283	161,534
Term loans amortized by cost basis, in one year prior to current fiscal year	149,018	90,402
Term loans amortized by cost basis, in two years prior to current fiscal year	76,504	80,745
Term loans amortized by cost basis, in three years prior to current fiscal year	66,065	65,681
Term loans amortized by cost basis, in four years prior to current fiscal year	52,072	38,001
Prior	43,198	23,171
Total	465,140	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	76,782	134,507
Term loans amortized by cost basis, in one year prior to current fiscal year	124,169	68,422
Term loans amortized by cost basis, in two years prior to current fiscal year	53,105	48,173
Term loans amortized by cost basis, in three years prior to current fiscal year	36,849	33,854
Term loans amortized by cost basis, in four years prior to current fiscal year	27,029	16,761
Prior	19,624	10,534
Total	337,558	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	164,107	245,148
Term loans amortized by cost basis, in one year prior to current fiscal year	247,689	180,737
Term loans amortized by cost basis, in two years prior to current fiscal year	163,079	184,307
Term loans amortized by cost basis, in three years prior to current fiscal year	159,093	133,098
Term loans amortized by cost basis, in four years prior to current fiscal year	109,330	63,229
Prior	71,625	38,474
Total	914,923	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	13,379	26,759
Term loans amortized by cost basis, in one year prior to current fiscal year	20,182	13,580
Term loans amortized by cost basis, in two years prior to current fiscal year	11,555	17,062
Term loans amortized by cost basis, in three years prior to current fiscal year	14,032	10,119
Term loans amortized by cost basis, in four years prior to current fiscal year	8,201	5,515
Prior	6,082	3,216
Total	73,431	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	190,766	194,055
Term loans amortized by cost basis, in one year prior to current fiscal year	169,137	72,910
Term loans amortized by cost basis, in two years prior to current fiscal year	58,168	81,426
Term loans amortized by cost basis, in three years prior to current fiscal year	61,577	49,722
Term loans amortized by cost basis, in four years prior to current fiscal year	37,055	39,009
Prior	632,471	628,585
Revolving Loans Amortized Cost Basis	57,985	61,900
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,207,159	1,127,607
Commercial secured by real estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,079,527	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	136,168	192,889
Term loans amortized by cost basis, in one year prior to current fiscal year	190,158	132,177
Term loans amortized by cost basis, in two years prior to current fiscal year	132,453	146,844
Term loans amortized by cost basis, in three years prior to current fiscal year	143,185	100,294
Term loans amortized by cost basis, in four years prior to current fiscal year	72,677	57,849
Prior	210,574	205,705
Revolving Loans Amortized Cost Basis	46,950	48,236
Total	932,165	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	57,293	276,355
Term loans amortized by cost basis, in one year prior to current fiscal year	224,344	93,880
Term loans amortized by cost basis, in two years prior to current fiscal year	81,585	54,207
Term loans amortized by cost basis, in three years prior to current fiscal year	40,006	60,596
Term loans amortized by cost basis, in four years prior to current fiscal year	61,244	9,712
Prior	14,256	6,032
Revolving Loans Amortized Cost Basis	386,885	345,279
Total	865,613	846,061
US commercial loans \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Total	623,807	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	55,248	85,394
Term loans amortized by cost basis, in one year prior to current fiscal year	85,534	68,254
Term loans amortized by cost basis, in two years prior to current fiscal year	64,997	43,439
Term loans amortized by cost basis, in three years prior to current fiscal year	39,097	75,925
Term loans amortized by cost basis, in four years prior to current fiscal year	64,560	0
Prior	0	0
Revolving Loans Amortized Cost Basis	314,371	171,928
Total	623,807	444,940
Mortgage loans \| Mortgage \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	10,017	18,486
Term loans amortized by cost basis, in one year prior to current fiscal year	26,538	16,711
Term loans amortized by cost basis, in two years prior to current fiscal year	17,089	15,590
Term loans amortized by cost basis, in three years prior to current fiscal year	15,969	19,771
Term loans amortized by cost basis, in four years prior to current fiscal year	17,469	26,702
Prior	621,673	621,588
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	708,755	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	10,017	18,486
Term loans amortized by cost basis, in one year prior to current fiscal year	26,538	16,585
Term loans amortized by cost basis, in two years prior to current fiscal year	16,966	15,461
Term loans amortized by cost basis, in three years prior to current fiscal year	15,111	19,261
Term loans amortized by cost basis, in four years prior to current fiscal year	17,007	24,872
Prior	589,770	584,792
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	675,409	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	123	129
Term loans amortized by cost basis, in three years prior to current fiscal year	858	510
Term loans amortized by cost basis, in four years prior to current fiscal year	462	1,830
Prior	31,903	36,796
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	33,346	39,391
Personal loans \| Consumer \| Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	180,749	175,569
Term loans amortized by cost basis, in one year prior to current fiscal year	142,599	56,199
Term loans amortized by cost basis, in two years prior to current fiscal year	41,079	65,836
Term loans amortized by cost basis, in three years prior to current fiscal year	45,608	29,951
Term loans amortized by cost basis, in four years prior to current fiscal year	19,586	12,307
Prior	10,798	6,997
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	440,419	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	180,716	175,273
Term loans amortized by cost basis, in one year prior to current fiscal year	142,304	55,960
Term loans amortized by cost basis, in two years prior to current fiscal year	40,917	65,425
Term loans amortized by cost basis, in three years prior to current fiscal year	45,414	29,808
Term loans amortized by cost basis, in four years prior to current fiscal year	19,418	12,287
Prior	10,430	6,661
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	439,199	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	33	296
Term loans amortized by cost basis, in one year prior to current fiscal year	295	239
Term loans amortized by cost basis, in two years prior to current fiscal year	162	411
Term loans amortized by cost basis, in three years prior to current fiscal year	194	143
Term loans amortized by cost basis, in four years prior to current fiscal year	168	20
Prior	368	336
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,220	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	13,597	14,775
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	13,597	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	13,433	14,549
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	13,433	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	164	226
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	164	226
Credit cards \| Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	44,074	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	44,074	46,795
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	44,074	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	43,471	46,163
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	43,471	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	603	632
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	603	632
Overdrafts \| Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total	314	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	314	330
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	314	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	314	330
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	314	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	136,168	183,820
Term loans amortized by cost basis, in one year prior to current fiscal year	181,469	120,855
Term loans amortized by cost basis, in two years prior to current fiscal year	121,765	114,208
Term loans amortized by cost basis, in three years prior to current fiscal year	111,269	94,864
Term loans amortized by cost basis, in four years prior to current fiscal year	67,813	52,439
Prior	186,450	183,026
Revolving Loans Amortized Cost Basis	42,048	45,178
Total	846,982	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	57,167	276,165
Term loans amortized by cost basis, in one year prior to current fiscal year	224,278	93,809
Term loans amortized by cost basis, in two years prior to current fiscal year	81,381	45,976
Term loans amortized by cost basis, in three years prior to current fiscal year	39,130	57,989
Term loans amortized by cost basis, in four years prior to current fiscal year	58,787	6,106
Prior	14,136	6,004
Revolving Loans Amortized Cost Basis	382,607	330,072
Total	857,486	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	54,361	85,394
Term loans amortized by cost basis, in one year prior to current fiscal year	85,534	61,098
Term loans amortized by cost basis, in two years prior to current fiscal year	57,794	41,924
Term loans amortized by cost basis, in three years prior to current fiscal year	37,559	47,179
Term loans amortized by cost basis, in four years prior to current fiscal year	52,194	0
Prior	0	0
Revolving Loans Amortized Cost Basis	314,371	171,928
Total	601,813	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	608	32,578
Term loans amortized by cost basis, in three years prior to current fiscal year	31,749	4,581
Term loans amortized by cost basis, in four years prior to current fiscal year	4,353	4,053
Prior	7,463	5,102
Revolving Loans Amortized Cost Basis	685	643
Total	44,858	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	9	23
Term loans amortized by cost basis, in two years prior to current fiscal year	29	8,076
Term loans amortized by cost basis, in three years prior to current fiscal year	680	2,213
Term loans amortized by cost basis, in four years prior to current fiscal year	1,954	3,525
Prior	0	0
Revolving Loans Amortized Cost Basis	2,217	13,642
Total	4,889	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	0	19,095
Term loans amortized by cost basis, in four years prior to current fiscal year	4,912	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	4,912	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	8,689	10,694
Term loans amortized by cost basis, in two years prior to current fiscal year	10,080	58
Term loans amortized by cost basis, in three years prior to current fiscal year	167	849
Term loans amortized by cost basis, in four years prior to current fiscal year	511	1,357
Prior	16,643	17,555
Revolving Loans Amortized Cost Basis	3,694	1,671
Total	39,784	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	126	112
Term loans amortized by cost basis, in one year prior to current fiscal year	57	48
Term loans amortized by cost basis, in two years prior to current fiscal year	175	155
Term loans amortized by cost basis, in three years prior to current fiscal year	196	394
Term loans amortized by cost basis, in four years prior to current fiscal year	503	81
Prior	120	28
Revolving Loans Amortized Cost Basis	2,015	1,513
Total	3,192	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	887	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	7,203	0
Term loans amortized by cost basis, in three years prior to current fiscal year	1,538	9,651
Term loans amortized by cost basis, in four years prior to current fiscal year	2,958	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	12,586	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	18	22
Revolving Loans Amortized Cost Basis	523	744
Total	541	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	46	52
Total	46	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	4,496	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Total	4,496	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			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in allowance for credit losses				$ 3,100
Provision related to growth in loan balances				9,100
Net charge-off				5,100
Increase (decrease) in net charge-offs				(6,100)
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs				1,100
Mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs				(7,000)
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs				(1,500)
Auto and leasing
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs				1,300
PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	$ 1,473		$ 961	5,501	$ 1,949
PCD \| Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	249		430	3,272	867
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]
Recoveries	1,026		184	1,871	330
PCD \| Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	13		33	36	55
PCD \| Auto and leasing
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	185		314	322	697
Non-PCD
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	7,151		7,883	14,963	15,310
Non-PCD \| Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs associated with loans sold	2,500			2,500
Recoveries	456		996	648	1,425
Non-PCD \| Mortgage
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	335		193	2,409	808
Non-PCD \| Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	795		697	1,450	1,263
Non-PCD \| Auto and leasing
Financing Receivable, Allowance for Credit Loss [Line Items]
Recoveries	$ 5,565		$ 5,997	10,456	$ 11,814
Improved Macroeconomic Conditions
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in allowance for credit losses				(9,600)
Total Past Due \| Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in allowance for credit losses				$ 9,500
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			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period		$ 155,937		$ 155,937
Provision for (recapture of) credit losses	$ 6,691		$ (8,305)	8,242	$ (1,981)
Balance at end of period	159,039		191,717	159,039	191,717
Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	44,441		56,279	44,441	56,279
Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	24,447		46,476	24,447	46,476
Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	23,129		19,103	23,129	19,103
Auto and leasing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	67,022		69,859	67,022	69,859
Non-PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	137,344	132,065	156,978	132,065	161,015
Provision for (recapture of) credit losses	12,302		(7,559)	20,865	(4,616)
Charge-offs	(12,901)		(8,988)	(23,997)	(23,395)
Recoveries	7,151		7,883	14,963	15,310
Balance at end of period	143,896	137,344	148,314	143,896	148,314
Non-PCD \| Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	37,097	32,262	47,683	32,262	45,779
Provision for (recapture of) credit losses	7,368		(4,503)	12,555	(2,961)
Charge-offs	(2,907)		(653)	(3,451)	(720)
Recoveries	456		996	648	1,425
Balance at end of period	42,014	37,097	43,523	42,014	43,523
Non-PCD \| Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	14,952	15,299	17,035	15,299	19,687
Provision for (recapture of) credit losses	(3,122)		(592)	(5,540)	(3,071)
Charge-offs	(259)		(268)	(262)	(1,056)
Recoveries	335		193	2,409	808
Balance at end of period	11,906	14,952	16,368	11,906	16,368
Non-PCD \| Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	21,100	19,141	21,191	19,141	25,253
Provision for (recapture of) credit losses	4,521		74	8,484	(85)
Charge-offs	(3,307)		(2,897)	(5,966)	(7,366)
Recoveries	795		697	1,450	1,263
Balance at end of period	23,109	21,100	19,065	23,109	19,065
Non-PCD \| Auto and leasing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	64,195	65,363	71,069	65,363	70,296
Provision for (recapture of) credit losses	3,535		(2,538)	5,366	1,501
Charge-offs	(6,428)		(5,170)	(14,318)	(14,253)
Recoveries	5,565		5,997	10,456	11,814
Balance at end of period	66,867	64,195	69,358	66,867	69,358
PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	19,731	23,872	44,995	23,872	43,794
Provision for (recapture of) credit losses	(5,795)		(579)	(12,643)	2,746
Charge-offs	(266)		(1,974)	(1,587)	(5,086)
Recoveries	1,473		961	5,501	1,949
Balance at end of period	15,143	19,731	43,403	15,143	43,403
PCD \| Commercial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	3,622	4,508	14,306	4,508	16,405
Provision for (recapture of) credit losses	(1,444)		(1,974)	(5,319)	(4,466)
Charge-offs	0		(6)	(34)	(50)
Recoveries	249		430	3,272	867
Balance at end of period	2,427	3,622	12,756	2,427	12,756
PCD \| Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	15,881	19,018	29,939	19,018	26,389
Provision for (recapture of) credit losses	(4,183)		1,727	(7,031)	7,721
Charge-offs	(183)		(1,742)	(1,317)	(4,332)
Recoveries	1,026		184	1,871	330
Balance at end of period	12,541	15,881	30,108	12,541	30,108
PCD \| Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	31	34	52	34	57
Provision for (recapture of) credit losses	(16)		(47)	(3)	(52)
Charge-offs	(8)		0	(47)	(22)
Recoveries	13		33	36	55
Balance at end of period	20	31	38	20	38
PCD \| Auto and leasing
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	197	312	698	312	943
Provision for (recapture of) credit losses	(152)		(285)	(290)	(457)
Charge-offs	(75)		(226)	(189)	(682)
Recoveries	185		314	322	697
Balance at end of period	$ 155	$ 197	$ 501	$ 155	$ 501

FORECLOSED REAL ESTATE (Foreclo

FORECLOSED REAL ESTATE (Foreclosed Real Estate Rollforward) (Details) - Originated Loans - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Real Estate Owned Rollforward [Line Items]
Foreclosed real estate beginning balance	$ 15,297	$ 15,598	$ 15,039	$ 11,596
Additions	2,549	2,907	5,729	9,544
Sales	(4,140)	(3,098)	(7,947)	(5,521)
Decline in value	(219)	(671)	(414)	(760)
Other adjustments	1,574	357	2,654	234
Foreclosed real estate ending balance	$ 15,061	$ 15,093	$ 15,061	$ 15,093

SERVICING ASSETS (Narrative) (D

SERVICING ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Servicing Assets at Fair Value [Line Items]
Fair value of servicing asset	$ 49,280	$ 47,712	$ 49,280	$ 47,712	$ 49,446	$ 48,973	$ 47,911	$ 47,295
Servicing fees on mortgage loans	669	720	1,806	1,485
Conventional Mortgage Loan
Servicing Assets at Fair Value [Line Items]
Servicing fees on mortgage loans	$ 5,200	$ 5,300	$ 10,200	$ 10,500

SERVICING ASSETS (Changes in Se

SERVICING ASSETS (Changes in Serving Rights at Fair Value) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at beginning of period	$ 49,446	$ 47,911	$ 48,973	$ 47,295
Servicing from mortgage securitization or asset transfers	1,150	2,023	2,269	3,443
Changes due to payments on loans	(1,478)	(1,862)	(2,977)	(3,369)
Changes in fair value due to changes in valuation model inputs or assumptions	162	(360)	1,015	343
Fair value at end of period	$ 49,280	$ 47,712	$ 49,280	$ 47,712

SERVICING ASSETS (Key Economic

SERVICING ASSETS (Key Economic Assumptions) (Details)	6 Months Ended
SERVICING ASSETS (Key Economic Assumptions) (Details)	Jun. 30, 2022	Jun. 30, 2021
Minimum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	3.60%	4.82%
Discount rate	10%	10%
Maximum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	22.71%	25.64%
Discount rate	15.50%	15.50%

SERVICING ASSETS (Sensitivity o

SERVICING ASSETS (Sensitivity of Current Fair Value of Servicing Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Transfers and Servicing [Abstract]
Carrying value of mortgage servicing asset	$ 49,280	$ 48,973
Constant prepayment rate - Decrease in fair value due to 10% adverse change	(951)	(1,020)
Constant prepayment rate - Decrease in fair value due to 20% adverse change	(1,872)	(2,004)
Discount rate - Decrease in fair value due to 10% adverse change	(2,221)	(2,175)
Discount rate - Decrease in fair value due to 20% adverse change	$ (4,270)	$ (4,183)

DERIVATIVES (Narrative) (Detail

DERIVATIVES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional amount of derivative contracts outstanding	$ 27,600	$ 28,500
Derivative assets	187	1
Derivative liabilities	$ 21	$ 804

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 86,069,000		$ 86,069,000		$ 86,069,000
Increase (decrease) in carrying amount of goodwill			0		0
Impairment of goodwill			0		0
Amortization of intangible assets	2,200,000	$ 2,500,000	4,293,000	$ 4,901,000
Banking Segment
Finite-Lived Intangible Assets [Line Items]
Goodwill	84,100,000		84,100,000		84,100,000
Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 2,000,000		$ 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	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 69,722	$ 69,722
Accumulated Amortization	37,922	33,629
Net Carrying Value	31,800	36,093
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	51,402	51,402
Accumulated Amortization	27,048	23,772
Net Carrying Value	24,354	27,630
Customer relationship intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	17,753	17,753
Accumulated Amortization	10,354	9,385
Net Carrying Value	7,399	8,368
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	567	567
Accumulated Amortization	520	472
Net Carrying Value	$ 47	$ 95

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Amortization of Other Intangible Assets) (Details) $ in Thousands	Jun. 30, 2022 USD ($)
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	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 58,371	$ 56,560
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	54,279	54,794
Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 4,092	$ 1,766

ACCRUED INTEREST RECEIVABLE A_4

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Other assets [Line Items]
Allowance for credit losses	$ 159,039	$ 155,937	$ 191,717
Prepaid expenses	65,696	61,061
Prepaid municipal, property, and income taxes	60,500	54,600
Other repossessed assets	2,533	1,945
COVID-19 Deferral Program Loans
Other assets [Line Items]
Accrued interest receivable	22,800	23,900
COVID-19 Deferral Program Loans \| Accrued Income Receivable
Other assets [Line Items]
Allowance for credit losses	416	161
COVID-19 Deferral Program Loans \| Current
Other assets [Line Items]
Accrued interest receivable	$ 21,700	$ 21,500

ACCRUED INTEREST RECEIVABLE A_5

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued Interest Receivable and Other Assets [Abstract]
Prepaid expenses	$ 65,696	$ 61,061
Other repossessed assets	2,533	1,945
Investment in Statutory Trust	0	1,083
Accounts receivable and other assets	86,412	88,756
Other assets	$ 154,641	$ 152,845

DEPOSITS AND RELATED INTEREST_2

DEPOSITS AND RELATED INTEREST (Deposits by Components) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deposits and Related Interest [Abstract]
Non-interest bearing demand deposits	$ 2,707,504	$ 2,501,644
Interest-bearing savings and demand deposits	5,185,419	4,880,476
Retail certificates of deposit	928,178	1,007,577
Institutional certificates of deposit	197,098	202,050
Total core deposits	9,018,199	8,591,747
Brokered deposits	11,371	11,371
Total deposits	$ 9,029,570	$ 8,603,118

DEPOSITS AND RELATED INTEREST_3

DEPOSITS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Deposits and Related Interest [Line Items]
Uninsured deposits	$ 3,753,000	$ 3,270,000
Weighted average interest rate of deposits	0.34%	0.49%
Time deposits in denominations in excess of $250,000	$ 329,500	$ 360,800
Deposits	9,029,570	8,603,118
Public funds collateral investments	316,400	228,900
Accrued interest on time deposits	580	736
Overdrafts in demand deposit accounts	605	491
Government \| Puerto Rico
Deposits and Related Interest [Line Items]
Deposits	$ 239,900	$ 183,800

DEPOSITS AND RELATED INTEREST_4

DEPOSITS AND RELATED INTEREST (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Deposits and Related Interest [Abstract]
Demand and savings deposits	$ 5,101	$ 6,209	$ 10,077	$ 12,580
Certificates of deposit	1,843	4,251	3,908	9,904
Total	$ 6,944	$ 10,460	$ 13,985	$ 22,484

DEPOSITS AND RELATED INTEREST_5

DEPOSITS AND RELATED INTEREST (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Period-end amount, within one year:
Three months or less	$ 242,135	$ 252,513
Over 3 months through 6 months	110,671	147,400
Over 6 months through 1 year	310,192	239,830
Within one year	662,998	639,743
Period-end amount, after one year:
Over 1 through 2 years	239,730	328,177
Over 2 through 3 years	111,306	114,403
Over 3 through 4 years	79,182	77,604
Over 4 through 5 years	41,822	58,918
Over 5 years	1,029	1,417
Certificates of deposit	1,136,067	1,220,262
Uninsured amount, within one year:
Three months or less	34,571	25,003
Over 3 months through 6 months	19,968	12,113
Over 6 months through 1 year	47,591	45,280
Within one year	102,130	82,396
Uninsured amount, after one year:
Over 1 through 2 years	36,483	60,108
Over 2 through 3 years	16,166	18,578
Over 3 through 4 years	23,596	22,536
Over 4 through 5 years	3,149	8,505
Over 5 years	0	0
Uninsured amount	$ 181,524	$ 192,123

BORROWINGS AND RELATED INTERE_3

BORROWINGS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Sep. 30, 2003
Debt Instrument [Line Items]
Loans, gross	$ 6,702,661			$ 6,702,661		$ 6,402,586
Trust redeemable preferred securities issued							$ 35,000
Gain from early debt extinguishment	0		$ 0	42	$ 0
Subordinated capital notes	$ 0			$ 0		36,083
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Minimum amount of qualifying collateral	110%			110%
Additional borrowing capacity	$ 605,600			$ 605,600		$ 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	28			$ 28		$ 8
Advances from the Federal Home Loan Bank \| Asset Pledged as Collateral
Debt Instrument [Line Items]
Loans, gross	$ 879,800			$ 879,800		$ 949,000
Junior Subordinated Debt
Debt Instrument [Line Items]
Par value of subordinated deferrable interest debenture		$ 36,100					$ 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	Jun. 30, 2022	Dec. 31, 2021
Advances from the Federal Home Loan Bank \| Under 90 days
Debt Instrument [Line Items]
Debt and lease obligation	$ 27,558	$ 28,480
Short-Term Fixed-Rate Advances from FHLB \| Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Debt and lease obligation	$ 27,558	$ 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	1.21%	0.35%

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Statutory tax rate			37.50%
Deferred tax assets, valuation allowance	$ 10,400		$ 10,400			$ 9,600
Deferred tax asset, net	76,100		76,100			99,100
Increase in valuation allowance			$ 731
Effective tax rate			31.30%	32%
Unrecognized tax benefits	832		$ 832			$ 798
Income tax expense	$ 18,923	$ 19,250	$ 35,496	$ 33,498
Forecast
Income Tax Examination [Line Items]
Expected effective tax rate for 2022					31.90%

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
OFG Bancorp
Amount
Actual - Total capital to risk-weighted assets	$ 1,053,766	$ 1,086,897
Actual - Tier 1 capital to risk-weighted assets	960,015	999,284
Actual - Common equity tier 1 capital to risk-weighted assets	960,015	964,284
Actual - Tier 1 capital to average total assets	960,015	999,284
Minimum Capital Requirement - Total capital to risk-weighted assets	787,413	735,512
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	637,430	595,414
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	524,942	490,341
Minimum Capital Requirement - Tier 1 capital to average total assets	405,805	412,359
Minimum to be Well Capitalized - Total capital to risk-weighted assets	749,917	700,488
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	599,934	560,390
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	487,446	455,317
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 507,257	$ 515,449
Ratio
Actual - total capital to risk-weighted assets	0.1405	0.1552
Actual - Tier 1 capital to risk-weighted assets	0.1280	0.1427
Actual - Common equity tier 1 capital to risk-weighted assets	12.80%	13.77%
Actual - Tier 1 capital to average total assets	0.0946	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%	7%
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	$ 999,970	$ 995,549
Actual - Tier 1 capital to risk-weighted assets	906,739	908,717
Actual - Common equity tier 1 capital to risk-weighted assets	906,739	908,717
Actual - Tier 1 capital to average total assets	906,739	908,717
Minimum Capital Requirement - Total capital to risk-weighted assets	782,992	728,867
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	633,851	590,035
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	521,995	485,911
Minimum Capital Requirement - Tier 1 capital to average total assets	403,697	409,855
Minimum to be Well Capitalized - Total capital to risk-weighted assets	745,707	694,159
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	596,565	555,327
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	484,709	451,203
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 504,621	$ 512,319
Ratio
Actual - total capital to risk-weighted assets	0.1341	0.1434
Actual - Tier 1 capital to risk-weighted assets	0.1216	0.1309
Actual - Common equity tier 1 capital to risk-weighted assets	12.16%	13.09%
Actual - Tier 1 capital to average total assets	0.0898	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%	7%
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	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jan. 31, 2022	Dec. 31, 2021	Jul. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Common stock	$ 59,885			$ 59,885
Legal surplus	125,400			117,700
Stock repurchase program, authorized amount	$ 100,000		$ 100,000
Shares repurchased during period (in shares)	2,351,868	0
Shares purchased (in shares)	0
Common shares repurchased	$ 64,110	$ 0
Share repurchased, average price per share (in dollars per share)	$ 27.04
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	1,412,984
Stock repurchase program, remaining authorized repurchase amount	$ 35,900
Share price (in dollars per share)	$ 25.40
Preferred stock
Equity, Class of Treasury Stock [Line Items]
Redemption of preferred stock		$ 68,000			$ 24,000
Preferred stock, redemption price (in dollars per share)		$ 25			$ 25
Common stock
Equity, Class of Treasury Stock [Line Items]
Accumulated common stock issuance costs charged against paid in capital	$ 13,600			$ 13,600

STOCKHOLDERS_ EQUITY (Activity

STOCKHOLDERS’ EQUITY (Activity of Common Shares Held in Treasury) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 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)	(269,239)	(273,436)
Common shares repurchased as part of the stock repurchase programs (in shares)	2,351,868	0
End of period (in shares)	12,331,511	8,224,727
Dollar Amount
Beginning of period	$ 150,572	$ 102,949
Common shares used upon lapse of restricted stock units and options	(3,544)	(2,230)
Common shares repurchased as part of the stock repurchase programs	64,110	0
End of period	$ 211,138	$ 100,719

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Accumulated Comprehensive Income, Net of Income Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges	$ 350	$ 172	$ 969	$ 419
Accumulated other comprehensive (loss) income, net of income taxes	(49,502)		(49,502)		$ 5,160
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income, net of income taxes	(49,502)		(49,502)		5,160
Net unrealized gain (loss) on securities available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired			(58,313)		7,292
Income tax effect of unrealized loss (gain) on securities available-for-sale			8,707		(1,629)
Net unrealized (loss) gain on securities available-for-sale which are not other-than-temporarily impaired	$ (49,606)		(49,606)		5,663
Net unrealized gain (loss) on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges			165		(804)
Income tax effect of unrealized gain (loss) on cash flow hedges			(61)		301
Net unrealized gain (loss) on cash flow hedges			$ 104		$ (503)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period			$ 1,069,160
Balance at end of period	$ 1,014,812	$ 1,079,997	1,014,812	$ 1,079,997
Net unrealized gain (loss) on securities available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(20,522)	7,145	5,663	12,092
Other comprehensive (loss) income before reclassifications	(29,086)	1,262	(55,273)	(3,687)
Amounts reclassified out of accumulated other comprehensive (loss) income	2	1	4	3
Other comprehensive (loss) income	(29,084)	1,263	(55,269)	(3,684)
Balance at end of period	(49,606)	8,408	(49,606)	8,408
Net unrealized gain (loss) on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(116)	(915)	(503)	(1,070)
Other comprehensive (loss) income before reclassifications	36	(345)	230	(649)
Amounts reclassified out of accumulated other comprehensive (loss) income	184	452	377	911
Other comprehensive (loss) income	220	107	607	262
Balance at end of period	104	(808)	104	(808)
Accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(20,638)	6,230	5,160	11,022
Other comprehensive (loss) income before reclassifications	(29,050)	917	(55,043)	(4,336)
Amounts reclassified out of accumulated other comprehensive (loss) income	186	453	381	914
Other comprehensive (loss) income	(28,864)	1,370	(54,662)	(3,422)
Balance at end of period	$ (49,502)	$ 7,600	$ (49,502)	$ 7,600

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Reclassifications Out of Other Comprehensive Income (Loss)) (Details) - Reclassification out of Accumulated Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest-rate contracts	$ 184	$ 452	$ 377	$ 911
Tax effect from changes in tax rates	2	1	4	3
Total	$ 186	$ 453	$ 381	$ 914

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income	$ 40,432	$ 40,827	$ 77,953	$ 71,200
Non-convertible preferred stock (Series A, B, and D)	0	0	0	(1,255)
Income available to common shareholders	$ 40,432	$ 40,827	$ 77,953	$ 69,945
Average common shares outstanding (in shares)	48,053	51,636	48,508	51,517
Average potential common shares-options (in shares)	336	412	425	368
Total weighted average common shares outstanding and equivalents (in shares)	48,389	52,048	48,933	51,885
Earnings per common share - basic (in dollars per share)	$ 0.84	$ 0.79	$ 1.61	$ 1.36
Earnings per common share - diluted (in dollars per share)	$ 0.84	$ 0.78	$ 1.59	$ 1.35

EARNINGS PER COMMON SHARE (Narr

EARNINGS PER COMMON SHARE (Narrative) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Weighted average stock options with an anti dilutive effect excluded from calculation of earnings per share (in shares)	1,292	1,514	1,138	0
Quarterly common stock cash dividend (in dollars per share)	$ 0.15	$ 0.08	$ 0.30	$ 0.16

GUARANTEES (Narrative) (Details

GUARANTEES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
GUARANTEES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Guarantor Obligations [Line Items]
Acquired standby letters of credit and financial guarantees	$ 28,700		$ 28,700		$ 25,200
Repurchased GNMA	711	$ 887	1,400	$ 1,900
Repurchased loans not subject to credit recourse provision	7,500	9,900	15,300	22,500
Gain (loss) from early extinguishment of debt	0	0	42	0
Amount of serviced loans	5,700,000		5,700,000		5,700,000
Funds advanced to investors under servicing agreements	11,500		11,500		12,900
Recourse
Guarantor Obligations [Line Items]
Unpaid principal balance of residential subject loans subject to credit recourse	115,600		115,600		121,800
Liability for estimated credit losses to loans sold with credit recourse	174		174		294
Gain (loss) from early extinguishment of debt	21	(90)	121	(68)
Nonrecourse
Guarantor Obligations [Line Items]
Gain (loss) from early extinguishment of debt	(53)	$ (1,400)	(51)	$ (2,800)
Loan serviced under representation warranties \| Nonrecourse
Guarantor Obligations [Line Items]
Unpaid principal balance of residential subject loans subject to credit recourse	$ 1,900		$ 1,900		$ 3,400

GUARANTEES (Changes in Liabilit

GUARANTEES (Changes in Liability of Estimated Loss from Credit Recourse Agreement) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Balance at beginning of period	$ 294	$ 195	$ 205	$ 218
Net recoveries (charge-offs/terminations)	(120)	10	(31)	(13)
Balance at end of period	$ 174	$ 205	$ 174	$ 205

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Summarized Credit-Related Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments to extend credit	$ 1,366,552	$ 1,365,273
Commercial letters of credit	3,230	48,196
Standby letters of credit and financial guarantees	28,728	25,203
Loans sold with recourse	$ 115,638	$ 121,778

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Allowance for credit losses for off-balance sheet	$ 770	$ 1,000
Other non-credit commitments	21,800	8,900
Contingency loss accrued liability	3,900	7,000
Technology Commitments
Other Commitments [Line Items]
Commitments for capital expenditures in technology	$ 8,900	$ 15,400

OPERATING LEASES (Operating Lea

OPERATING LEASES (Operating Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lessee Disclosure [Abstract]
Lease costs	$ 2,663	$ 2,851	$ 5,218	$ 6,224
Variable lease costs	285	495	832	988
Short-term lease cost	282	126	537	146
Lease income	(53)	(112)	(129)	(232)
Total lease cost	$ 3,177	$ 3,360	$ 6,458	$ 7,126

OPERATING LEASES (Operating L_2

OPERATING LEASES (Operating Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Lessee Disclosure [Abstract]
Right-of-use assets	$ 27,699	$ 28,846
Lease Liabilities	$ 29,538	$ 30,498

OPERATING LEASES (Operating L_3

OPERATING LEASES (Operating Lease Terms) (Details)	Jun. 30, 2022
Lessee Disclosure [Abstract]
Weighted-average remaining lease term (in years)	5 years 3 months 18 days
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	Jun. 30, 2022	Dec. 31, 2021
Lessee Disclosure [Abstract]
2022	$ 4,733
2023	8,771
2024	6,441
2025	4,612
2026	3,033
Thereafter	7,923
Total lease payments	35,513
Less imputed interest	5,975
Present value of lease liabilities	$ 29,538	$ 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	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 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	$ 1,159,570		$ 510,713
Trading securities	13		20
Money market investments	4,913		8,952	$ 11,206
Derivative assets	187		1
Servicing assets	49,280	$ 49,446	48,973	$ 47,712	$ 47,911	$ 47,295
Other repossessed assets	2,533		1,945
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,159,570		510,713
Trading securities	13		20
Money market investments	4,913		8,952
Derivative assets	187		1
Servicing assets	49,280		48,973
Derivative liabilities	(21)		(804)
Total	1,213,942		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	10,733		10,825
Trading securities	0		0
Money market investments	4,913		8,952
Derivative assets	0		0
Servicing assets	0		0
Derivative liabilities	0		0
Total	15,646		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	1,147,256		498,358
Trading securities	13		20
Money market investments	0		0
Derivative assets	187		1
Servicing assets	0		0
Derivative liabilities	(21)		(804)
Total	1,147,435		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	1,581		1,530
Trading securities	0		0
Money market investments	0		0
Derivative assets	0		0
Servicing assets	49,280		48,973
Derivative liabilities	0		0
Total	50,861		50,503
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	21,565		10,233
Foreclosed real estate	15,061		15,039
Other repossessed assets	2,533		1,945
Total	39,159		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	21,565		10,233
Foreclosed real estate	15,061		15,039
Other repossessed assets	2,533		1,945
Total	$ 39,159		$ 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning year	$ 51,000		$ 50,503
New instruments acquired	1,150		2,269
Principal repayments and amortization	(1,478)		(2,977)
Gains (losses) included in earnings	162		1,015
Gains included in other comprehensive income	27		51
Balance at end of year	50,861		50,861
Other debt securities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning year	1,554		1,530
New instruments acquired	0		0
Principal repayments and amortization	0		0
Gains (losses) included in earnings	0		0
Gains included in other comprehensive income	27		51
Balance at end of year	1,581		1,581
Servicing Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning year	49,446	$ 47,911	48,973	$ 47,295
New instruments acquired	1,150	2,023	2,269	3,443
Principal repayments and amortization	(1,478)	(1,862)	(2,977)	(3,369)
Gains (losses) included in earnings	162	(360)	1,015	343
Gains included in other comprehensive income	0	0	0	0
Balance at end of year	$ 49,280	$ 47,712	$ 49,280	$ 47,712

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Transfers into or out of level 3	$ 0	$ 0	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Qualitative Information for Assets and Liabilities) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Fair Value
Investment securities available-for-sale	$ 1,159,570			$ 510,713
Servicing assets	49,280	$ 47,712	$ 49,446	48,973	$ 47,911	$ 47,295
Other repossessed assets	$ 2,533			$ 1,945
Minimum
Unobservable Input
Constant prepayment rate	3.60%	4.82%
Maximum
Unobservable Input
Constant prepayment rate	22.71%	25.64%
Level 3 \| Cash flow valuation \| Other debt securities available for sale
Fair Value
Investment securities available-for-sale	$ 1,581
Level 3 \| Cash flow valuation \| Other debt securities available for sale \| Recovery Rate
Unobservable Input
Other debt securities, measurement input	0.3308
Level 3 \| Cash flow valuation \| Servicing Assets
Fair Value
Servicing assets	$ 49,280
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	0.0015
Level 3 \| Cash flow valuation \| Minimum \| Servicing Assets
Unobservable Input
Constant prepayment rate	3.60%
Discount rate	10%
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	0.0212
Level 3 \| Cash flow valuation \| Maximum \| Servicing Assets
Unobservable Input
Constant prepayment rate	22.71%
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	0.0015
Level 3 \| Cash flow valuation \| Weighted Average \| Other debt securities available for sale \| Recovery Rate
Unobservable Input
Other debt securities, measurement input	0.3308
Level 3 \| Cash flow valuation \| Weighted Average \| Servicing Assets
Unobservable Input
Constant prepayment rate	5.90%
Discount rate	11.45%
Level 3 \| Fair value of property or collateral \| Collateralized loan obligations
Fair Value
Collateral dependent loans	$ 21,565
Level 3 \| Fair value of property or collateral \| Foreclosed real estate
Fair Value
Foreclosed real estate	15,061
Level 3 \| Fair value of property or collateral \| Other repossessed assets
Fair Value
Other repossessed assets	$ 2,533
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	20%
Level 3 \| Fair value of property or collateral \| Maximum \| Collateralized loan obligations
Unobservable Input
Appraised value less disposition costs	33.20%
Level 3 \| Fair value of property or collateral \| Maximum \| Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	33.20%
Level 3 \| Fair value of property or collateral \| Maximum \| Other repossessed assets
Unobservable Input
Estimated net realizable value less disposition costs	90%
Level 3 \| Fair value of property or collateral \| Weighted Average \| Collateralized loan obligations
Unobservable Input
Appraised value less disposition costs	17.16%
Level 3 \| Fair value of property or collateral \| Weighted Average \| Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	11.69%
Level 3 \| Fair value of property or collateral \| Weighted Average \| Other repossessed assets
Unobservable Input
Estimated net realizable value less disposition costs	61.76%

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Estimated Fair Value and Carrying Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financial Assets:
Restricted cash	$ 169		$ 175	$ 199
Investment securities available-for-sale	1,159,570		510,713
Trading securities	13		20
Investment securities held-to-maturity	501,747		363,653
Derivative assets	187		1
Total loans (including loans held-for-sale)	6,543,622		6,246,649
Servicing assets	49,280	$ 49,446	48,973	$ 47,712	$ 47,911	$ 47,295
Level 1 \| Fair Value
Financial Assets:
Cash and cash equivalents	1,307,112		2,023,475
Restricted cash	169		175
Investment securities available-for-sale	10,733		10,825
Level 1 \| Carrying Value
Financial Assets:
Cash and cash equivalents	1,307,112		2,023,475
Restricted cash	169		175
Investment securities available-for-sale	10,733		10,825
Level 2 \| Fair Value
Financial Assets:
Investment securities available-for-sale	1,147,256		498,358
Trading securities	13		20
Investment securities held-to-maturity	501,747		363,653
Federal Home Loan Bank (FHLB) stock	6,047		5,966
Equity securities	13,801		11,612
Derivative assets	187		1
Financial Liabilities:
Derivative liabilities	21		804
Level 2 \| Carrying Value
Financial Assets:
Investment securities available-for-sale	1,147,256		498,358
Trading securities	13		20
Investment securities held-to-maturity	547,832		367,507
Federal Home Loan Bank (FHLB) stock	6,047		5,966
Equity securities	13,801		11,612
Derivative assets	187		1
Financial Liabilities:
Derivative liabilities	21		804
Level 3 \| Fair Value
Financial Assets:
Investment securities available-for-sale	1,581		1,530
Total loans (including loans held-for-sale)	6,517,268		6,197,347
Accrued interest receivable	58,371		56,560
Servicing assets	49,280		48,973
Accounts receivable and other assets	86,225		88,756
Financial Liabilities:
Deposits	9,032,247		8,614,073
Advances from FHLB	27,557		28,480
Other borrowings	32		0
Subordinated capital notes	0		36,084
Accrued expenses and other liabilities	119,065		96,240
Level 3 \| Carrying Value
Financial Assets:
Investment securities available-for-sale	1,581		1,530
Total loans (including loans held-for-sale)	6,585,210		6,329,311
Accrued interest receivable	58,371		56,560
Servicing assets	49,280		48,973
Accounts receivable and other assets	86,225		88,756
Financial Liabilities:
Deposits	9,029,570		8,603,118
Advances from FHLB	27,586		28,488
Other borrowings	32		0
Subordinated capital notes	0		36,083
Accrued expenses and other liabilities	$ 119,065		$ 96,240

BANKING AND FINANCIAL SERVICE_3

BANKING AND FINANCIAL SERVICE REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Banking service revenues:
Checking accounts fees	$ 2,225	$ 2,082	$ 4,370	$ 4,044
Savings accounts fees	326	297	605	549
Electronic banking fees	14,080	14,638	27,174	27,521
Credit life commissions	291	70	595	187
Branch service commissions	300	275	660	636
Servicing and other loan fees	669	720	1,806	1,485
International fees	246	154	485	305
Miscellaneous income	4	15	8	21
Total banking service revenues	18,141	18,251	35,703	34,748
Wealth management revenue:
Insurance income	3,818	2,995	6,852	5,226
Broker fees	1,714	2,328	3,603	4,452
Trust fees	2,566	2,717	5,307	5,499
Retirement plan and administration fees	172	223	365	474
Total wealth management revenue	8,270	8,263	16,127	15,651
Mortgage banking activities:
Net servicing fees	3,839	3,127	8,202	7,477
Net gains on sale of mortgage loans and valuation	993	2,931	2,308	5,423
Other	(29)	(1,518)	75	(2,787)
Total mortgage banking activities	4,803	4,540	10,585	10,113
Total banking and financial service revenues	$ 31,214	$ 31,054	$ 62,415	$ 60,512

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
BUSINESS SEGMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Interest income	$ 122,222	$ 113,457	$ 235,171	$ 224,433
Interest expense	(7,128)	(11,206)	(14,883)	(23,984)
Net interest income	115,094	102,251	220,288	200,449
Provision for (recapture of) credit losses	6,691	(8,305)	8,242	(1,981)
Non-interest income	36,210	32,197	67,816	62,610
Non-interest expenses	(85,258)	(82,676)	(166,413)	(160,342)
Intersegment revenue	0	0	0	0
Intersegment expenses	0	0	0	0
Income before income taxes	59,355	60,077	113,449	104,698
Income tax expense	18,923	19,250	35,496	33,498
Net income	40,432	40,827	77,953	71,200
Total assets	10,247,774	10,461,813	10,247,774	10,461,813	$ 9,899,720
Total Major Segments
Segment Reporting Information [Line Items]
Interest income	122,222	113,457	235,171	224,433
Interest expense	(7,128)	(11,206)	(14,883)	(23,984)
Net interest income	115,094	102,251	220,288	200,449
Provision for (recapture of) credit losses	6,691	(8,305)	8,242	(1,981)
Non-interest income	36,210	32,197	67,816	62,610
Non-interest expenses	(85,258)	(82,676)	(166,413)	(160,342)
Income before income taxes	59,355	60,077	113,449	104,698
Income tax expense	18,923	19,250	35,496	33,498
Net income	40,432	40,827	77,953	71,200
Total assets	11,261,377	11,535,481	11,261,377	11,535,481
Total Major Segments \| Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	543	545	1,057	1,098
Intersegment expenses	(543)	(545)	(1,057)	(1,098)
Eliminations
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Interest expense	0	0	0	0
Net interest income	0	0	0	0
Provision for (recapture of) credit losses	0	0	0	0
Non-interest income	0	0	0	0
Non-interest expenses	0	0	0	0
Intersegment revenue	(543)	(545)	(1,057)	(1,098)
Intersegment expenses	543	545	1,057	1,098
Income before income taxes	0	0	0	0
Income tax expense	0	0	0	0
Net income	0	0	0	0
Total assets	(1,013,603)	(1,073,668)	(1,013,603)	(1,073,668)
Banking \| Total Major Segments
Segment Reporting Information [Line Items]
Interest income	109,292	110,446	216,115	218,676
Interest expense	(6,280)	(10,712)	(13,651)	(22,848)
Net interest income	103,012	99,734	202,464	195,828
Provision for (recapture of) credit losses	6,634	(7,737)	8,344	(1,149)
Non-interest income	27,802	24,215	51,352	47,088
Non-interest expenses	(79,656)	(76,623)	(155,447)	(150,497)
Income before income taxes	45,067	55,608	91,082	94,666
Income tax expense	18,580	19,239	35,062	33,475
Net income	26,487	36,369	56,020	61,191
Total assets	8,235,814	8,271,348	8,235,814	8,271,348
Banking \| Total Major Segments \| Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	543	545	1,057	1,098
Intersegment expenses	0	0	0	0
Wealth Management \| Total Major Segments
Segment Reporting Information [Line Items]
Interest income	5	6	10	18
Interest expense	0	0	0	0
Net interest income	5	6	10	18
Provision for (recapture of) credit losses	0	0	0	0
Non-interest income	8,408	7,974	16,414	15,505
Non-interest expenses	(4,795)	(5,015)	(9,380)	(7,844)
Income before income taxes	3,242	2,663	6,325	7,086
Income tax expense	0	0	0	0
Net income	3,242	2,663	6,325	7,086
Total assets	28,240	31,165	28,240	31,165
Wealth Management \| Total Major Segments \| Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0	0	0
Intersegment expenses	(376)	(302)	(719)	(593)
Treasury \| Total Major Segments
Segment Reporting Information [Line Items]
Interest income	12,925	3,005	19,046	5,739
Interest expense	(848)	(494)	(1,232)	(1,136)
Net interest income	12,077	2,511	17,814	4,603
Provision for (recapture of) credit losses	57	(568)	(102)	(832)
Non-interest income	0	8	50	17
Non-interest expenses	(807)	(1,038)	(1,586)	(2,001)
Income before income taxes	11,046	1,806	16,042	2,946
Income tax expense	343	11	434	23
Net income	10,703	1,795	15,608	2,923
Total assets	2,997,323	3,232,968	2,997,323	3,232,968
Treasury \| Total Major Segments \| Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0	0	0
Intersegment expenses	$ (167)	$ (243)	$ (338)	$ (505)