OFG Bancorp (OFG) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

COVER

COVER - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		46,561,532
Amendment Flag	false
Document Fiscal Year Focus	2024
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, 2024	Dec. 31, 2023
Cash and cash equivalents:
Cash and due from banks	$ 735,346	$ 743,550
Money market investments	5,083	4,623
Total cash and cash equivalents	740,429	748,173
Investments:
Trading securities, at fair value, with amortized cost of $163 (December 31, 2023 - $163)	16	13
Investment securities available-for-sale, at fair value, with amortized cost of $2,198,116 (December 31, 2023 - $2,177,761); no allowance for credit losses	2,096,306	2,099,264
Investment securities held-to-maturity, at amortized cost, with fair value of $279,437 (December 31, 2023 - $490,764); no allowance for credit losses	338,621	549,024
Equity securities	41,074	38,469
Total investments	2,476,017	2,686,770
Loans:
Loans held-for-sale, at lower of cost or fair value	20,736	28,345
Loans held-for-investment, net of allowance for credit losses of $157,301 (December 31, 2023 - $161,106)	7,482,406	7,373,273
Total loans	7,503,142	7,401,618
Other assets:
Foreclosed real estate	6,526	10,780
Accrued interest receivable	72,969	71,400
Deferred tax assets, net	4,094	4,923
Premises and equipment, net	104,384	104,102
Customers' liability on acceptances	28,504	25,576
Servicing assets	49,789	49,520
Goodwill	84,241	84,241
Other intangible assets	17,738	20,694
Operating lease right-of-use assets	20,298	21,725
Other assets	150,954	114,931
Total assets	11,259,085	11,344,453
Deposits:
Demand deposits	6,017,364	6,050,428
Savings accounts	2,002,342	2,088,102
Time deposits	1,585,544	1,623,639
Total deposits	9,605,250	9,762,169
Borrowings:
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	200,741	200,768
Other borrowings	0	2
Total borrowings	200,741	200,770
Other liabilities:
Acceptances executed and outstanding	28,504	25,576
Operating lease liabilities	22,605	24,029
Deferred tax liabilities, net	33,873	22,444
Accrued expenses and other liabilities	140,410	115,985
Total liabilities	10,031,383	10,150,973
Commitments and contingencies (See Note 18)
Stockholders’ equity:
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 46,561,532 shares outstanding (December 31, 2023 - 59,885,234 shares issued; 47,065,156 shares outstanding)	59,885	59,885
Additional paid-in capital	637,895	638,667
Legal surplus	160,560	150,967
Retained earnings	706,807	639,324
Treasury stock, at cost, 13,323,702 shares (December 31, 2023 - 12,820,078 shares)	(250,951)	(228,350)
Accumulated other comprehensive loss, net of tax of $15,316 (December 31, 2023 - $11,484)	(86,494)	(67,013)
Total stockholders’ equity	1,227,702	1,193,480
Total liabilities and stockholders’ equity	$ 11,259,085	$ 11,344,453

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Trading securities, amortized cost	$ 163	$ 163
Investment securities available-for-sale, amortized cost	2,198,116	2,177,761
Investment securities available-for-sale, allowance for credit loss	0	0
Investment securities held-to-maturity, fair value	279,437	490,764
Investment securities held-to-maturity, allowance for credit loss	0	0
Loans held for investment, allowance for credit losses	$ 157,301	$ 161,106
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)	46,561,532	47,065,156
Treasury stock, at cost (in shares)	13,323,702	12,820,078
Accumulated other comprehensive income, tax (benefit) expense	$ 15,316	$ 11,484

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Loans	$ 154,257	$ 135,518	$ 303,851	$ 263,829
Mortgage-backed securities	20,893	10,593	40,687	20,667
Investment securities and other	12,508	11,877	26,546	22,477
Total interest income	187,658	157,988	371,084	306,973
Interest expense:
Deposits	37,812	15,916	74,604	28,413
Advances from FHLB and other borrowings	2,521	2,428	5,053	3,019
Total interest expense	40,333	18,344	79,657	31,432
Net interest income	147,325	139,644	291,427	275,541
Provision for credit losses	15,581	15,044	30,702	24,489
Net interest income after provision for credit losses	131,744	124,600	260,725	251,052
Non-interest income:
Banking service revenue	18,781	17,440	36,040	34,953
Wealth management revenue	8,440	8,194	16,547	15,314
Mortgage banking activities	4,864	5,225	9,557	9,123
Total banking and financial service revenues	32,085	30,859	62,144	59,390
Net loss on sale of securities	0	(1,149)	(7)	(1,149)
Other non-interest income	391	363	687	733
Total non-interest income	32,476	30,073	62,824	58,974
Non-interest expense:
Compensation and employee benefits	38,467	37,841	78,283	76,314
Occupancy, equipment and infrastructure costs	14,393	14,362	28,715	28,619
Electronic banking charges	11,687	10,262	22,053	20,598
Information technology expenses	6,565	7,188	13,168	13,606
Professional and service fees	5,117	5,319	9,121	10,383
Taxes, other than payroll and income taxes	3,224	3,265	6,467	6,538
Insurance	3,117	2,689	5,793	5,606
Loan servicing and clearing expenses	1,890	1,866	4,000	4,133
Advertising, business promotion, and strategic initiatives	2,445	2,063	4,824	4,098
Communication	1,219	1,160	2,300	2,189
Printing, postage, stationery and supplies	939	866	1,898	1,596
Foreclosed real estate and other repossessed assets income, net of expenses	(731)	(2,320)	(63)	(1,527)
Other	4,628	4,327	7,813	6,955
Total non-interest expense	92,960	88,888	184,372	179,108
Income before income taxes	71,260	65,785	139,177	130,918
Income tax expense	20,129	21,612	38,354	40,516
Net income available to common shareholders	$ 51,131	$ 44,173	$ 100,823	$ 90,402
Earnings per common share:
Basic (in dollars per share)	$ 1.09	$ 0.93	$ 2.14	$ 1.91
Diluted (in dollars per share)	$ 1.08	$ 0.93	$ 2.13	$ 1.89
Average common shares outstanding and equivalents (in shares)	47,131	47,490	47,244	47,716
Cash dividends per share of common stock (in dollars per share)	$ 0.25	$ 0.22	$ 0.50	$ 0.44

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 51,131	$ 44,173	$ 100,823	$ 90,402
Other comprehensive (loss) income before tax:
Unrealized (loss) gain on securities available-for-sale	(5,763)	(14,342)	(23,320)	3,583
Realized loss on sale of securities available-for-sale	0	1,149	7	1,149
Unrealized loss on cash flow hedges	0	(155)	0	(286)
Other comprehensive (loss) income before taxes	(5,763)	(13,348)	(23,313)	4,446
Income tax effect	1,000	2,124	3,832	(601)
Other comprehensive (loss) income after taxes	(4,763)	(11,224)	(19,481)	3,845
Comprehensive income	$ 46,368	$ 32,949	$ 81,342	$ 94,247

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	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, 2022			$ 59,885	$ 636,793	$ 133,901	$ 516,371	$ (211,135)	$ (93,409)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				2,368
Lapsed restricted stock units				(3,110)			1,372
Transfer from retained earnings					8,666
Net income		$ 90,402				90,402
Cash dividends declared on common stock	[1]					(21,065)
Transfer to legal surplus		8,700				(8,666)
Stocks repurchased		(16,467)					(16,467)
Lapsed restricted stock units and options				(3,110)			1,372
Other comprehensive (loss) gain, net of tax		3,845						3,845
Balance at end of period at Jun. 30, 2023		1,099,751		636,051	142,567	577,042	(226,230)	(89,564)
Balance at beginning of period at Mar. 31, 2023			59,885	634,785	138,333	547,641	(212,794)	(78,340)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				1,403
Lapsed restricted stock units				(137)			137
Transfer from retained earnings					4,234
Net income		44,173				44,173
Cash dividends declared on common stock	[1]					(10,538)
Transfer to legal surplus		4,200				(4,234)
Stocks repurchased		(13,573)					(13,573)
Lapsed restricted stock units and options				(137)			137
Other comprehensive (loss) gain, net of tax		(11,224)						(11,224)
Balance at end of period at Jun. 30, 2023		1,099,751		636,051	142,567	577,042	(226,230)	(89,564)
Balance at beginning of period at Dec. 31, 2023		1,193,480	59,885	638,667	150,967	639,324	(228,350)	(67,013)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				3,130
Lapsed restricted stock units				(3,902)			1,681
Transfer from retained earnings					9,593
Net income		100,823				100,823
Cash dividends declared on common stock	[1]					(23,747)
Transfer to legal surplus		9,600				(9,593)
Stocks repurchased		(24,282)					(24,282)
Lapsed restricted stock units and options				(3,902)			1,681
Other comprehensive (loss) gain, net of tax		(19,481)						(19,481)
Balance at end of period at Jun. 30, 2024		1,227,702		637,895	160,560	706,807	(250,951)	(86,494)
Balance at beginning of period at Mar. 31, 2024			$ 59,885	636,208	155,732	672,455	(226,896)	(81,731)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense				1,966
Lapsed restricted stock units				(279)			227
Transfer from retained earnings					4,828
Net income		51,131				51,131
Cash dividends declared on common stock	[1]					(11,951)
Transfer to legal surplus		4,800				(4,828)
Stocks repurchased		(24,282)					(24,282)
Lapsed restricted stock units and options				(279)			227
Other comprehensive (loss) gain, net of tax		(4,763)						(4,763)
Balance at end of period at Jun. 30, 2024		$ 1,227,702		$ 637,895	$ 160,560	$ 706,807	$ (250,951)	$ (86,494)
[1]Dividends declared per common share during the quarter ended June 30, 2024 - $0.25 (June 30, 2023 - $0.22). Dividends declared per common share during the six-month period ended June 30, 2024 - $0.50 (June 30, 2023 - $0.44).

UNAUDITED CONSOLIDATED STATEM_6

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.25	$ 0.25	$ 0.22	$ 0.50	$ 0.44	$ 0.22

UNAUDITED CONSOLIDATED STATEM_7

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 100,823	$ 90,402
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred loan origination fees, net of costs, and fair value premiums on loans	855	323
Amortization of investment securities discounts, net of accretion of premiums	(5,359)	(3,191)
Amortization of other intangible assets	2,956	3,450
Net change in operating leases	3	184
Depreciation and amortization of premises and equipment	10,600	10,210
Deferred income tax expense, net	16,090	34,580
Provision for credit losses	30,702	24,489
Stock-based compensation	3,130	2,368
(Gain) loss on:
Sale of securities	7	1,149
Sale of loans	(660)	(287)
Foreclosed real estate and other repossessed assets	(1,867)	(4,472)
Sale of other assets	(1)	25
Originations and purchases of loans held-for-sale	(60,378)	(59,847)
Proceeds from sale of loans held-for-sale	56,045	5,596
Net (increase) decrease in:
Accrued interest receivable	(1,576)	(947)
Servicing assets	(269)	955
Other assets	(34,323)	(6,458)
Net (decrease) increase in:
Accrued interest on deposits and borrowings	(1,226)	1,083
Accrued expenses and other liabilities	40,525	(269)
Net cash provided by operating activities	156,077	99,343
Purchases of:
Investment securities available-for-sale	(545,356)	(47,650)
FHLB stock	(28,016)	(9,681)
Equity securities	(1,813)	(2,642)
Maturities and redemptions of:
Investment securities available-for-sale	418,623	176,280
Investment securities held-to-maturity	210,817	10,311
FHLB stock	27,224	44
Proceeds from sales of:
Investment securities available-for-sale	149,406	202,133
Foreclosed real estate and other repossessed assets, including write-offs	27,159	30,957
Premises and equipment	1	30
Origination and purchase of loans, excluding loans held-for-sale	(1,435,894)	(1,801,377)
Principal repayment of loans	1,246,285	1,473,429
Additions to premises and equipment	(10,903)	(7,656)
Net cash provided by investing activities	57,533	24,178
Net (decrease) increase in:
Deposits	(172,551)	(35,417)
FHLB advances and other borrowings	(2)	198,714
Exercise of stock options and restricted units lapsed, net	(2,221)	(1,738)
Purchase of treasury stock	(24,282)	(16,467)
Dividends paid on common stock	(22,298)	(20,104)
Net cash (used in) provided by financing activities	(221,354)	124,988
Net change in cash and cash equivalents	(7,744)	248,509
Cash and cash equivalents at beginning of period	748,173	550,464
Cash and cash equivalents at end of period	740,429	798,973
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:
Cash and due from banks	735,346	795,546
Money market investments	5,083	3,427
Total cash and cash equivalents at end of period	740,429	798,973
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:
Interest paid	78,619	27,706
Income taxes paid	11,822	3,438
Operating lease liabilities paid	4,911	5,024
Mortgage loans held-for-sale securitized into mortgage-backed securities	38,089	53,713
Transfer from loans to foreclosed real estate and other repossessed assets	23,429	25,785
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio	26,840	86
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio	1,084	8,736
Financed sales of foreclosed real estate	710	488
Delinquent loans booked under the GNMA buy-back option	$ 19,008	$ 18,417

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF 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”), and OFG Ventures LLC (“OFG Ventures”), which holds investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer, auto, and mortgage lending, financial planning, insurance sales, investment advisory, and securities brokerage services, as well as corporate and individual trust services. The Bank has a wholly-owned operating subsidiary, OFG USA LLC (“OFG USA”), which is a commercial lender organized in Delaware. In addition, Oriental International Bank Inc. (“OIB”), a wholly-owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are international banking entities licensed pursuant to the International Banking Center Regulatory Act of Puerto Rico, as amended. OIB and Oriental Overseas offer the Bank certain Puerto Rico tax advantages. Their activities are limited under Puerto Rico law to persons located in Puerto Rico with assets/liabilities located outside of Puerto Rico. In March 2024, the Bank organized OBPEF LLC (“OBPEF”), as a wholly-owned subsidiary of the Bank and a private equity fund under the Puerto Rico Incentives Code, as amended, which objective is to provide financing to eligible borrowers, whether in the form of senior or subordinated debt, to support the economic development of Puerto Rico. 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 (“SEC”). 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 OFG’s annual report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 Form 10-K”). Operating results for the six-month period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. OFG evaluated subsequent events through the filing date of this report with the SEC and has recorded or disclosed those material events or transactions as described within the accompanying consolidated financial statements and notes. Material estimates that are particularly susceptible to significant change in the near term relate mainly to the determination of the allowance for credit losses. New Accounting Updates Not Yet Adopted Codification Improvements—Amendments to Remove References to the Concepts Statements. In March 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-02, which removes various references to concept statements from the FASB Accounting Standards Codification. The ASU intends to simplify the Accounting Standards Codification and distinguish between non-authoritative and authoritative guidance. For public business entities, the amendments will be effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The amendments can be applied prospectively or retrospectively. We will adopt this guidance when it becomes effective, in the first quarter of 2025 and on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. Compensation—Stock Compensation. In March 2024, the FASB issued ASU 2024-01 to improve GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar awards should be accounted for in accordance with Topic 718. The ASU 2024-01 is intended to reduce complexity and diversity in practice. For public business entities, the amendments will be effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted. Although OFG is currently evaluating the impact that the adoption of this guidance will have on its financial statements and disclosures, we do not expect the impact to be material. Segment Reporting—Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued ASU 2023-07 to enhance segment reporting by expanding the breadth and frequency of segment disclosures required for public entities. The amendments in this ASU will allow registrants to disclose multiple measures of segment profit or loss and it also clarifies that single reportable segment entities must apply Topic 280 in its entirety. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We will adopt this guidance when it becomes effective in the annual period of 2024 on a retrospective basis to all periods presented in the financial statements, and the impact on our financial statements and disclosures is not expected to be material. Income Taxes—Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09 to enhance income tax disclosures and requests for more information about the tax risks and opportunities present in an entity’s worldwide operations. The ASU’s two primary enhancements will require further disaggregation for existing disclosures for the effective tax rate reconciliation and income taxes paid. More specifically, the amendments will require entities to disclose: a tabular effective tax rate reconciliation, broken out into specific categories with certain reconciling items above a 5% threshold further broken out by nature and jurisdiction; and income taxes paid (net of refunds received), broken out between federal, state and foreign, and net amounts paid to an individual jurisdiction that exceed 5% of the total. The amendments in this update are effective for annual periods beginning after December 15, 2024. Entities are permitted to early adopt these amendments. The amendments should be applied prospectively, but retrospective application is permitted. We will adopt this guidance when it becomes effective, in the annual period of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. The Enhancement and Standardization of Climate-Related Disclosures for Investors. On March 6, 2024, the SEC issued a final rule under SEC Release No. 33-11275 that requires registrants to provide climate disclosures in their annual reports and registration statements. The rule includes disclosure concerning the use of carbon offsets or renewable energy credits or certificates if their use is a material component of the registrant’s plans to achieve its disclosed climate-related targets or goals, and certain disclosures about Scope 1 and/or Scope 2 greenhouse gas (“GHG”) emissions, if material. It also requires disclosures of amounts related to the effects of severe weather events and other natural conditions. The disclosure requirements will apply to OFG's fiscal year beginning January 1, 2025. We will adopt this rule when it becomes effective. OFG is currently evaluating the final rule, but the impact on our financial statements and disclosures is not expected to be material.

RESTRICTED CASH

RESTRICTED CASH	6 Months Ended
	Jun. 30, 2024
Restricted Cash and Investments [Abstract]
RESTRICTED CASH	RESTRICTED CASH The Bank is required by Puerto Rico law to maintain average weekly reserve balances to cover demand deposits, excluding government deposits that are secured with pledged collateral. The amount of those minimum average reserve balances for the week that covered June 30, 2024 was $474.2 million (December 31, 2023 - $464.5 million). At June 30, 2024 and December 31, 2023, 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
	Jun. 30, 2024
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, 2024 and December 31, 2023, money market instruments included as part of cash and cash equivalents amounted to $5.1 million and $4.6 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, 2024 and December 31, 2023 were as follows: June 30, 2024 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 $ 8,933 $ — $ 421 $ 8,512 1.98 % Due from 5 to 10 years 36,742 — 2,517 34,225 1.97 % Due after 10 years 1,512,171 5,261 69,008 1,448,424 4.28 % Total FNMA and FHLMC certificates 1,557,846 5,261 71,946 1,491,161 4.21 % GNMA certificates Due from 1 to 5 years 7,965 — 319 7,646 1.72 % Due from 5 to 10 years 13,552 7 883 12,676 2.23 % Due after 10 years 409,828 5,017 38,662 376,183 3.54 % Total GNMA certificates 431,345 5,024 39,864 396,505 3.47 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 6,896 — 274 6,622 1.78 % Due after 10 years 790 — 11 779 5.06 % Total CMOs issued by US government-sponsored agencies 7,686 — 285 7,401 2.11 % Total mortgage-backed securities 1,996,877 10,285 112,095 1,895,067 4.04 % Investment securities US Treasury securities Due less than 1 year 200,656 2 — 200,658 5.41 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 83 — 2 81 2.97 % Total other debt securities 583 — 2 581 3.21 % Total investment securities 201,239 2 2 201,239 5.41 % Total securities available for sale $ 2,198,116 $ 10,287 $ 112,097 $ 2,096,306 4.17 % June 30, 2024 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 $ 303,621 $ — $ 59,256 $ 244,365 1.72 % Investment securities Other debt securities Due from 1 to 5 years 35,000 72 — 35,072 6.33 % Total securities held to maturity $ 338,621 $ 72 $ 59,256 $ 279,437 2.20 % December 31, 2023 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 $ 6,972 — $ 311 $ 6,661 1.76 % Due from 5 to 10 years 45,835 — 2,767 43,068 2.00 % Due after 10 years 1,411,327 8,989 54,100 1,366,216 4.11 % Total FNMA and FHLMC certificates 1,464,134 8,989 57,178 1,415,945 4.03 % GNMA certificates Due less than 1 year 5 — — 5 1.31 % Due from 1 to 5 years 8,851 — 351 8,500 1.71 % Due from 5 to 10 years 17,113 16 955 16,174 2.19 % Due after 10 years 380,306 4,419 33,110 351,615 3.38 % Total GNMA certificates 406,275 4,435 34,416 376,294 3.30 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 9,071 — 364 8,707 1.78 % Due from 5 to 10 years 54 — — 54 2.14 % Due after 10 years 861 — 12 849 5.07 % Total CMOs issued by US government-sponsored agencies 9,986 — 376 9,610 2.06 % Total mortgage-backed securities 1,880,395 13,424 91,970 1,801,849 3.86 % Investment securities US Treasury securities Due less than 1 year 296,747 52 — 296,799 5.40 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 119 — 3 116 2.97 % Total other debt securities 619 — 3 616 3.20 % Total investment securities 297,366 52 3 297,415 5.39 % Total securities available for sale $ 2,177,761 $ 13,476 $ 91,973 $ 2,099,264 4.07 % December 31, 2023 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 $ 314,710 $ — $ 56,767 $ 257,943 1.72 % Investment securities US Treasury securities Due less than 1 year 199,314 — 1,548 197,766 3.33 % Other debt securities Due from 1 to 5 years 35,000 55 — 35,055 6.36 % Total securities held to maturity $ 549,024 $ 55 $ 58,315 $ 490,764 2.60 % 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. 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. At June 30, 2024 and December 31, 2023, most securities held by OFG are issued by U.S. government entities and government-sponsored agencies that have a zero-credit loss assumption and, therefore, have no allowance for credit losses. Investment securities at June 30, 2024 include $1.648 billion pledged to secure government deposits and regulatory collateral, of which $1.602 billion serve as collateral for public funds. For regulatory collateral, the secured parties are not permitted to sell or repledge them. Investment securities as of December 31, 2023 include $1.624 billion pledged to secure government deposits, derivatives, and regulatory collateral that the secured parties are not permitted to sell or repledge, of which $1.575 billion serve as collateral for public funds. At June 30, 2024 and December 31, 2023, the Bank’s international banking entity, OIB, held short-term US Treasury securities in the amount of $525 thousand and $325 thousand, respectively, as the legal reserve required for international banking entities under Puerto Rico law. At both June 30, 2024 and December 31, 2023, the Bank’s international banking entity, Oriental Overseas, held short-term US Treasury securities in the amount of $325 thousand 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. During the six-month periods ended June 30, 2024 and 2023, OFG retained securitized GNMA pools totaling $38.1 million and $41.1 million, respectively, at a yield of 5.09% and 5.16%, respectively, from its own originations. During the six-month periods ended June 30, 2023, OFG retained FNMA pools totaling $12.6 million at a yield of 5.31%, from its own originations. OFG did not retain FNMA pools during the six-month periods ended June 30, 2024. During the six-month periods ended June 30, 2024 and 2023, OFG sold $149.4 million and $203.3 million, respectively, of available for sale US Treasury securities and recognized a $7 thousand and $1.1 million, respectively, in losses on the sale. These losses are included in the consolidated statements of operations. Six-Month Period Ended June 30, 2024 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 149,406 $ 149,413 $ — $ 7 Six-Month Period Ended June 30, 2023 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 202,133 $ 203,282 $ — $ 1,149 The following table shows OFG’s gross unrealized losses and fair value of investment securities available-for-sale at June 30, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: June 30, 2024 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 737,230 $ 67,814 $ 669,416 GNMA certificates 267,882 39,458 228,424 CMOs issued by US Government-sponsored agencies 7,686 285 7,401 Other debt securities 83 2 81 $ 1,012,881 $ 107,559 $ 905,322 June 30, 2024 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 197,672 $ 4,132 $ 193,540 GNMA certificates 37,603 406 37,197 $ 235,275 $ 4,538 $ 230,737 June 30, 2024 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 934,902 $ 71,946 $ 862,956 GNMA certificates 305,485 39,864 265,621 CMOs issued by US Government-sponsored agencies 7,686 285 7,401 Other debt securities 83 2 81 $ 1,248,156 $ 112,097 $ 1,136,059 The unrealized losses on OFG’s investment in federal agency mortgage-backed securities were caused by market volatility related to interest rate increases. OFG purchased those investments at a discount relative to their face amount, and the contractual cash flows of those investments are guaranteed by an agency of the U.S. government or by a government-sponsored enterprise. Accordingly, it is expected that the securities would not be settled at a price that is less than the amortized cost basis of OFG’s investments. OFG does not intend to sell the investments, and it is not more likely than not that OFG will be required to sell the investments before recovery of their amortized cost basis. December 31, 2023 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 731,334 $ 56,847 $ 674,487 GNMA certificates 275,669 34,364 241,305 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,017,108 $ 91,590 $ 925,518 December 31, 2023 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 106,235 $ 331 $ 105,904 GNMA certificates 7,864 52 7,812 $ 114,099 $ 383 $ 113,716 December 31, 2023 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 837,569 $ 57,178 $ 780,391 GNMA certificates 283,533 34,416 249,117 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,131,207 $ 91,973 $ 1,039,234

LOANS

LOANS	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
LOANS	LOANS OFG’s loan portfolio is composed of four segments: commercial, mortgage, consumer, and auto loans. 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, 2024 and December 31, 2023 was as follows: June 30, 2024 December 31, 2023 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial PR: Commercial secured by real estate $ 1,182,145 $ 114,516 $ 1,296,661 $ 1,095,207 $ 120,988 $ 1,216,195 Other commercial and industrial 1,109,608 14,068 1,123,676 1,091,021 14,459 1,105,480 2,291,753 128,584 2,420,337 2,186,228 135,447 2,321,675 Commercial US 662,026 — 662,026 755,228 — 755,228 Total commercial loans 2,953,779 128,584 3,082,363 2,941,456 135,447 3,076,903 Mortgage loans 600,031 885,096 1,485,127 629,247 933,362 1,562,609 Consumer loans: Personal loans 594,271 253 594,524 568,358 264 568,622 Credit lines 10,648 352 11,000 10,926 288 11,214 Credit cards 38,382 — 38,382 40,314 — 40,314 Overdraft 271 — 271 296 — 296 643,572 605 644,177 619,894 552 620,446 Auto loans 2,427,089 951 2,428,040 2,272,530 1,891 2,274,421 6,624,471 1,015,236 7,639,707 6,463,127 1,071,252 7,534,379 Allowance for credit losses (150,849) (6,452) (157,301) (152,610) (8,496) (161,106) Total loans held for investment, net 6,473,622 1,008,784 7,482,406 6,310,517 1,062,756 7,373,273 Mortgage loans held-for-sale 8,375 — 8,375 — — — Other loans held-for-sale 12,361 — 12,361 28,345 — 28,345 Total loans held-for-sale 20,736 — 20,736 28,345 — 28,345 Total loans, net $ 6,494,358 $ 1,008,784 $ 7,503,142 $ 6,338,862 $ 1,062,756 $ 7,401,618 During the six-month period ended June 30, 2024, OFG sold $40.9 million commercial loans held-for-sale and recognized a $53 thousand gain, included in other non-interest income in the consolidated statement of operations. During the six month period ended June 30, 2023, OFG sold $86 thousand commercial loans held-for-sale with no gain or loss. At June 30, 2024 and December 31, 2023, OFG had $12.4 million and $28.3 million, respectively, in commercial loans held-for-sale. At June 30, 2024 and December 31, 2023, OFG had carrying balances of $75.8 million and $68.6 million, respectively, in loans held-for-investment granted to the Puerto Rico government or its instrumentalities as part of the commercial loan segment. The Bank’s loans to the Puerto Rico government 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. The tables below present the aging of the amortized cost of loans held for investment at June 30, 2024 and December 31, 2023, by class of loans. Mortgage loans past due include $19.0 million and $19.4 million of delinquent loans in the GNMA buy-back option program at June 30, 2024 and December 31, 2023, 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, 2024 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 3,533 $ 2,189 $ 6,032 $ 11,754 $ 1,170,391 $ 1,182,145 $ — Other commercial and industrial 704 313 3,890 4,907 1,104,701 1,109,608 — 4,237 2,502 9,922 16,661 2,275,092 2,291,753 — Commercial US 1,042 — — 1,042 660,984 662,026 — Total commercial loans 5,279 2,502 9,922 17,703 2,936,076 2,953,779 — Mortgage loans 5,442 7,325 29,684 42,451 557,580 600,031 1,682 Consumer loans: Personal loans 6,904 4,766 2,569 14,239 580,032 594,271 — Credit lines 476 70 12 558 10,090 10,648 — Credit cards 542 281 722 1,545 36,837 38,382 — Overdraft 63 — — 63 208 271 — 7,985 5,117 3,303 16,405 627,167 643,572 — Auto loans 111,291 41,526 16,689 169,506 2,257,583 2,427,089 — Total loans $ 129,997 $ 56,470 $ 59,598 $ 246,065 $ 6,378,406 $ 6,624,471 $ 1,682 December 31, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 1,585 $ 411 $ 5,671 $ 7,667 $ 1,087,540 $ 1,095,207 $ — Other commercial and industrial 1,366 291 4,974 6,631 1,084,390 1,091,021 — 2,951 702 10,645 14,298 2,171,930 2,186,228 — Commercial US — — — — 755,228 755,228 — Total commercial loans 2,951 702 10,645 14,298 2,927,158 2,941,456 — Mortgage loans 6,107 9,596 31,557 47,260 581,987 629,247 2,478 Consumer loans: Personal loans 6,115 4,041 2,755 12,911 555,447 568,358 — Credit lines 137 35 35 207 10,719 10,926 — Credit cards 657 280 586 1,523 38,791 40,314 — Overdraft 87 14 — 101 195 296 — 6,996 4,370 3,376 14,742 605,152 619,894 — Auto loans 101,610 46,071 19,056 166,737 2,105,793 2,272,530 — Total loans $ 117,664 $ 60,739 $ 64,634 $ 243,037 $ 6,220,090 $ 6,463,127 $ 2,478 As of December 31, 2023, total past due loans exclude $6.4 million of past due commercial loans held - for - sale, these loans were sold during the quarter ended June 30, 2024. There were no past due commercial loans held-for-sale as of June 30, 2024. 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, purchased credit deteriorated (“PCD”) loans are not included in the preceding two tables. Non-accrual Loans The following table presents the amortized cost basis of loans held for investment on non-accrual status as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 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) (In thousands) Non-PCD: Commercial PR: Commercial secured by real estate $ 4,789 $ 12,865 $ 17,654 $ 3,553 $ 7,929 $ 11,482 Other commercial and industrial 1,657 2,663 4,320 4,560 830 5,390 6,446 15,528 21,974 8,113 8,759 16,872 Commercial US 12,503 — 12,503 19,224 — 19,224 Total Commercial loans 18,949 15,528 34,477 27,337 8,759 36,096 Mortgage loans 9,396 3,312 12,708 10,339 3,858 14,197 Consumer loans: Personal loans 2,564 32 2,596 2,741 14 2,755 Personal lines of credit 12 — 12 35 — 35 Credit cards 721 — 721 586 — 586 3,297 32 3,329 3,362 14 3,376 Auto loans 16,684 5 16,689 19,051 5 19,056 Total $ 48,326 $ 18,877 $ 67,203 $ 60,089 $ 12,636 $ 72,725 PCD: Commercial PR: Commercial secured by real estate $ 569 $ 3,468 $ 4,037 $ 3,060 $ 2,417 $ 5,477 Other commercial and industrial — 711 711 — 947 947 569 4,179 4,748 3,060 3,364 6,424 Mortgage loans 244 — 244 250 — 250 Total $ 813 $ 4,179 $ 4,992 $ 3,310 $ 3,364 $ 6,674 Total non-accrual loans $ 49,139 $ 23,056 $ 72,195 $ 63,399 $ 16,000 $ 79,399 The determination of non-accrual or accrual status of PCD loans is made at the pool level, not the individual loan level. For December 31, 2023, total commercial non-accrual loans excludes $6.4 million of non-accrual commercial loans held-for-sale, these loans were sold during the second quarter of 2024. There were no commercial non-accrual loans held-for-sale at June 30, 2024. Delinquent residential mortgage loans insured or guaranteed under applicable Federal Housing Administration (“FHA”) and Veterans Administration (“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. Modifications to Debtors Experiencing Financial Difficulty OFG’s loss mitigation program was designed to ensure that borrowers experiencing financial difficulties have the opportunity to continue paying their obligations. The loss mitigation alternatives are divided depending on the borrower’s hardship and its ability to continue with regular payment or with a new modified payment plan. The loss mitigation program provides alternatives for home retention or disposition options avoiding foreclosure proceedings and collateral retention. OFG offers various types of loan modifications to borrowers experiencing financial difficulty in the form of an interest rate reduction, an other-than-insignificant payment delay, a term extension, interest or principal forbearance or forgiveness, or any combination of these types of concessions. At June 30, 2024 and 2023, the amortized cost of modified loans excludes $1 thousand and $5 thousand, respectively, in accrued interest receivable. Accrued interest receivable on loans is included in the “accrued interest receivable” line in OFG’s consolidated statements of financial condition. The amortized cost of modified loans during the six-month period ended June 30, 2024 and 2023, includes $229 thousand and $4.2 million, respectively, of government-guaranteed loans ( e.g., FHA/VA). The following tables present the amortized cost basis as of June 30, 2024 and 2023 of loans held for investment that were modified during the quarters and six-month periods ended June 30, 2024 and 2023, disaggregated by class of financing receivable and type of concession granted. Quarter Ended June 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Mortgage loans $ — — % $ 595 0.04 % $ — — % $ 92 0.01 % $ — — % Auto loans 32 — % — — % — — % — — % $ — — % Total $ 32 $ 595 $ — $ 92 $ — Six-Month Period Ended June 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Mortgage loans $ — — % $ 687 0.05 % $ — — % $ 92 0.01 % $ — — % Consumer: Personal loans 26 — % 7 — % — — % — — % — — % Auto loans 32 — % — — % — — % — — % — — % Total $ 58 $ 694 $ — $ 92 — Quarter Ended June 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 5,341 0.48 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 147 0.01 % — — % — — % $ — — % — — % 5,488 0.20 % — — % — — % — — % Commercial US — — % — — % — — % — — % 4,260 0.64 % Total Commercial loans $ — — % 5,488 0.20 % — — % — — % 4,260 0.64 % Mortgage loans — — % 1,827 0.11 % — — % 417 0.03 % $ 431 0.03 % Consumer: Personal loans — — % — — % — — % 58 0.01 % $ — — % Total $ — $ 7,315 $ — $ 475 $ 4,691 Six-Month Period Ended June 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 5,810 0.52 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 147 0.01 % — — % — — % $ — — % — — % 5,957 0.21 % — — % — — % — — % Commercial US — — % — — % — — % — — % 4,260 0.64 % Total Commercial loans $ — — % 5,957 0.21 % — — % — — % 4,260 0.64 % Mortgage loans $ — — % 4,318 0.27 % $ 100 0.01 % 602 0.02 % 431 0.03 % Consumer: Personal loans — — % — — % — — % 84 0.02 % — — % Total $ — $ 10,275 $ 100 $ 686 $ 4,691 Our credit loss estimation methodology incorporates a lifetime approach, utilizing modeled loan performance based on the historical experience of loans with similar risk characteristics, adjusted for current conditions, and reasonable and supportable forecasts. The model considers extensive historical loss experience, including the impact of loss mitigation programs offered to borrowers facing financial difficulty and projected loss severity from loan defaults, and is applied consistently across all portfolio segments. Additionally, our ACL is recorded on each asset upon origination or acquisition and is based on historical loss information, including modifications made to borrowers facing financial difficulty, and expected behavior. Changes to the ACL are generally not recorded upon modification, as the effects of most modifications are already considered in the estimation methodology. Refer to Note 5 – Allowance for Credit Losses for additional information. The following tables present the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarters and six-month periods ended June 30, 2024 and 2023. The financial effect of the combined modifications is presented separately by type of modification. Quarter Ended June 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Mortgage loans 0.38 % 178 — Auto loans 3.00 % 0 — Six-Month Period Ended June 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Mortgage loans 0.38 % 176 — Consumer loans: Personal loans 5.00 % 18 — Auto loans 3.00 % 0 — Quarter Ended June 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 25 $ — Commercial US — % 31 2,973 56 $ 2,973 Mortgage loans 1.86 % 195 20 Consumer loans: Personal loans 1.25 % 110 — Six-Month Period Ended June 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 24 $ — Commercial US — % 31 $ 2,973 — % 56 $ 2,973 Mortgage loans 2.04 % 206 $ 24 Consumer loans: Personal loans 2.50 % 81 — The following table presents the amortized cost basis as of June 30, 2024 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior twelve-months. Twelve-Months Ended June 30, 2024 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 108 $ — $ — $ 108 The following table presents the amortized cost basis as of June 30, 2023 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the six-month period ended June 30, 2023. Six-Months Ended June 30, 2023 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 415 $ — $ — $ 415 A payment default for a financial difficulty modification loan is defined as reaching 90 days past due with respect to principal and/or interest payments or when the borrower missed three consecutive monthly payments since modification. Payment defaults is one of the factors considered when projecting future cash flows in the calculation of the allowance for credit losses of loans. OFG closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the payment status of loans that have been modified in the twelve-months period ended June 30, 2024 and in the six-month period ended June 30, 2023 that were granted to borrowers experiencing financial difficulty. June 30, 2024 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial loans: Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 136 $ 136 Other commercial and industrial — — — — 626 626 — — — — 762 762 Commercial US — — — — 2,711 2,711 — — — — 3,473 3,473 Mortgage loans 315 29 108 452 1,983 2,435 Consumer loans: Personal loans — — — — 70 70 Auto loans — — — — 138 138 Total $ 315 $ 29 $ 108 $ 452 $ 5,664 $ 6,116 June 30, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 5,810 $ 5,810 Other commercial and industrial — — — — 147 147 Commercial US — — — — 4,260 4,260 — — — — 10,217 10,217 Mortgage loans — 122 415 537 4,914 5,451 Consumer loans: Personal loans — — — — 84 84 Total $ — $ 122 $ 415 $ 537 $ 15,215 $ 15,752 There were no outstanding commitments to lend additional funds to debtors experiencing financial difficulties at June 30, 2024 and December 31, 2023. As of June 30, 2024 and December 31, 2023, the recorded investment on residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure amounted to $16.7 million and $24.1 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 their respective 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 property title issues. Collateral-dependent Loans The table below presents the amortized cost of commercial collateral-dependent loans held for investment at June 30, 2024 and December 31, 2023, by class of loans. June 30, December 31, 2024 2023 (In thousands) Commercial PR: Commercial loans secured by real estate $ 13,772 $ 8,027 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 process described above are considered to be pass loans. As of June 30, 2024, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans, and current year-to-date period gross charge-offs by year of origination is as follows: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 110,497 $ 221,993 $ 223,863 $ 193,443 $ 109,474 $ 208,712 $ 61,271 $ 1,129,253 Special Mention — — 7,298 6,375 4,702 13,031 113 31,519 Substandard — 745 454 1,400 1,206 15,940 1,628 21,373 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial secured by real estate 110,497 222,738 231,615 201,218 115,382 237,683 63,012 1,182,145 Commercial secured by real estate: YTD gross charge-offs — — — — — 7 — 7 Other commercial and industrial: Loan grade: Pass 74,157 282,784 71,959 54,624 29,347 17,785 524,959 1,055,615 Special Mention — 5 2,695 45,033 2 147 1,060 48,942 Substandard — 142 313 914 226 1,023 2,433 5,051 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 74,157 282,931 74,967 100,571 29,575 18,955 528,452 1,109,608 Other commercial and industrial: YTD gross charge-offs 114 50 237 3,307 — 11 — 3,719 Commercial US: Loan grade: Pass 35,163 131,419 49,463 59,225 29,467 29,215 285,887 619,839 Special Mention — — — — — — 9,841 9,841 Substandard 6,532 6,730 2,728 7,613 — 5,698 635 29,936 Doubtful 2,410 — — — — — — 2,410 Loss — — — — — — — — Total Commercial US: 44,105 138,149 52,191 66,838 29,467 34,913 296,363 662,026 Commercial US: YTD gross charge-offs — — 392 1,749 — 1,183 — 3,324 Total commercial loans $ 228,759 $ 643,818 $ 358,773 $ 368,627 $ 174,424 $ 291,551 $ 887,827 $ 2,953,779 Total YTD gross charge-offs $ 114 $ 50 $ 629 $ 5,056 $ — $ 1,201 $ — $ 7,050 As of December 31, 2023, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans is as follows: Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 224,598 $ 216,205 $ 195,884 $ 120,489 $ 80,671 $ 131,016 $ 65,873 $ 1,034,736 Special Mention — 1,772 6,554 5,057 15,676 12,500 153 41,712 Substandard — 459 1,386 1,109 2,615 11,939 1,236 18,744 Doubtful — — — — — 15 — 15 Loss — — — — — — — — Total commercial secured by real estate 224,598 218,436 203,824 126,655 98,962 155,470 67,262 1,095,207 Commercial secured by real estate: YTD gross charge-offs — — 265 — 94 820 — 1,179 Other commercial and industrial: Loan grade: Pass 284,615 99,522 113,760 37,665 7,438 14,836 527,008 1,084,844 Special Mention 8 2,953 — — 51 100 — 3,112 Substandard 3 473 826 259 935 186 383 3,065 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 284,626 102,948 114,586 37,924 8,424 15,122 527,391 1,091,021 Other commercial and industrial: YTD gross charge-offs — 124 1,095 89 9 1,180 — 2,497 Commercial US: Loan grade: Pass 142,222 63,885 69,233 31,206 28,202 8,085 358,757 701,590 Special Mention — 7,803 — — — — 20,913 28,716 Substandard 10,832 — — — — 5,699 8,391 24,922 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial US: 153,054 71,688 69,233 31,206 28,202 13,784 388,061 755,228 Commercial US: YTD gross charge-offs 33 1,156 642 47 — 8,637 — 10,515 Total commercial loans $ 662,278 $ 393,072 $ 387,643 $ 195,785 $ 135,588 $ 184,376 $ 982,714 $ 2,941,456 Total YTD gross charge-offs $ 33 $ 1,280 $ 2,002 $ 136 $ 103 $ 10,637 $ — $ 14,191 At June 30, 2024 and December 31, 2023 , the balance of revolving commercial loans converted to term loans was $177.7 million and $144.1 million, respectively. OFG considers the performance of the loan portfolio and its impact on the ACL. 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 held for investment based on payment activity as of June 30, 2024: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 10,304 $ 17,149 $ 19,296 $ 22,321 $ 15,094 $ 498,542 $ — $ 582,706 Nonperforming — 650 — 172 105 16,398 — 17,325 Total mortgage loans: 10,304 17,799 19,296 22,493 15,199 514,940 — 600,031 Mortgage loans: YTD gross charge-offs — — — — — 65 — 65 Consumer loans: Personal loans: Payment performance: Performing 140,402 223,895 146,898 52,589 14,925 12,966 — 591,675 Nonperforming 69 820 1,105 416 76 110 — 2,596 Total personal loans 140,471 224,715 148,003 53,005 15,001 13,076 — 594,271 Personal loans: YTD gross charge-offs 56 4,355 6,759 2,036 425 735 — 14,366 Credit lines: Payment performance: Performing — — — — — — 10,636 10,636 Nonperforming — — — — — — 12 12 Total credit lines — — — — — — 10,648 10,648 Credit lines: YTD gross charge-offs — — — — — — 88 88 Credit cards: Payment performance: Performing — — — — — — 37,661 37,661 Nonperforming — — — — — — 721 721 Total credit cards — — — — — — 38,382 38,382 Credit cards: YTD gross charge-offs — — — — — — 1,165 1,165 Overdrafts: Payment performance: Performing — — — — — — 271 271 Nonperforming — — — — — — — — Total overdrafts — — — — — — 271 271 Overdrafts: YTD gross charge-offs — — — — — — 542 542 Total consumer loans 140,471 224,715 148,003 53,005 15,001 13,076 49,301 643,572 Total consumer loans YTD gross charge-offs 56 4,355 6,759 2,036 425 735 1,795 16,161 Total mortgage and consumer loans $ 150,775 $ 242,514 $ 167,299 $ 75,498 $ 30,200 $ 528,016 $ 49,301 $ 1,243,603 Total mortgage and consumer loans YTD gross charge-offs $ 56 $ 4,355 $ 6,759 $ 2,036 $ 425 $ 800 $ 1,795 $ 16,226 The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2023 : Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 24,623 $ 19,722 $ 23,303 $ 15,821 $ 14,589 $ 511,182 $ — $ 609,240 Nonperforming $ — — 181 108 479 19,239 — 20,007 Total mortgage loans: 24,623 19,722 23,484 15,929 15,068 530,421 — 629,247 Mortgage loans: YTD gross charge-offs $ — 4 — — — 755 — 759 Consumer loans: Personal loans: Payment performance: Performing 270,883 186,612 68,133 19,185 14,460 6,330 — $ 565,603 Nonperforming 503 1,588 304 193 66 101 — 2,755 Total personal loans 271,386 188,200 68,437 19,378 14,526 6,431 — 568,358 Personal loans: YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 — 19,866 Credit lines: Payment performance: Performing — — — — — — 10,891 $ 10,891 Nonperforming — — — — — — 35 35 Total credit lines — — — — — — 10,926 10,926 Credit lines: YTD gross charge-offs — — — — — — 419 419 Credit cards: Payment performance: Performing — — — — — — 39,728 $ 39,728 Nonperforming — — — — — — 586 586 Total credit cards — — — — — — 40,314 40,314 Credit cards: YTD gross charge-offs — — — — — — 2,825 2,825 Overdrafts: Payment performance: Performing — — — — — — 296 $ 296 Nonperforming — — — — — — — — Total overdrafts — — — — — — 296 296 Overdrafts: YTD gross charge-offs — — — — — — 545 545 Total consumer loans 271,383 188,200 68,437 19,378 14,526 6,431 51,536 619,894 Total consumer loans YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 3,789 23,655 Total mortgage and consumer loans $ 296,009 $ 207,922 $ 91,921 $ 35,307 $ 29,594 $ 536,852 $ 51,536 $ 1,249,141 Total mortgage and consumer loans YTD gross charge-offs $ 1,748 $ 10,516 $ 4,661 $ 830 $ 1,384 $ 1,486 $ 3,789 $ 24,414 At June 30, 2024, the balance of revolving mortgage and consumer loans that converted to term loans was $788 thousand. At December 31, 2023 , there were no mortgage and consumer revolving loans that converted to term loans. OFG evaluates credit quality for auto loans based on FICO score. The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of June 30, 2024: Term Loans Total 2024 2023 2022 2021 2020 Prior (In thousands) Auto loans: FICO score: 1-660 72,253 193,855 178,546 106,187 48,537 56,594 655,972 661-699 86,699 148,429 88,989 45,869 20,872 22,658 413,516 700+ 265,909 443,723 282,292 157,960 84,776 98,252 1,332,912 No FICO 2,901 7,107 6,117 4,014 1,759 2,791 24,689 Total auto loans $ 427,762 $ 793,114 $ 555,944 $ 314,030 $ 155,944 $ 180,295 $ 2,427,089 Auto loans: YTD gross charge-offs $ 137 $ 9,196 $ 9,310 $ 3,889 $ 1,784 $ 2,461 $ 26,777 The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2023 : Term Loans Total 2023 2022 2021 2020 2019 Prior (In thousands) Auto loans: FICO score: 1-660 170,639 190,743 118,821 57,087 41,124 38,570 616,984 661-699 169,430 110,260 58,166 25,886 18,253 16,137 398,132 700+ 474,005 323,514 183,286 103,886 88,929 58,779 1,232,399 No FICO 6,203 6,537 4,592 2,200 3,886 1,597 25,015 Total auto loans $ 820,277 $ 631,054 $ 364,865 $ 189,059 $ 152,192 $ 115,083 $ 2,272,530 Auto loans: YTD gross charge-offs $ 4,090 $ 18,142 $ 10,894 $ 4,008 $ 3,380 $ 3,250 $ 43,764 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 preceding two tables. As of June 30, 2024 and December 31, 2023 , accrued interest receivable on loans totaled $64.0 million and $63.5 million, respectively, and is included in the accrued interest receivable line in OFG’s consolidated statements of financial condition. Refer to “Note 9 – Accrued Interest Receivable and Other Assets” for more information on accrued interest receivable on loans.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES OFG measures its ACL based on management’s best estimate of lifetime expected credit losses inherent in OFG’s relevant financial assets. The ACL is estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio, and 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 weight 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. For more information on OFG’s credit loss accounting policies, including the allowance for credit losses, see “Note 1 – Summary of Significant Accounting Policies” included in OFG’s 2023 Form 10-K. At June 30, 2024, 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 uses a higher probability level in the moderate recessionary scenario. In addition, the ACL at June 30, 2024 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 auto loan portfolio credit trends and the evolution of risk ratings applied to the commercial loans and collateral changes in real estate portfolios. There are still many unknown variables, including the results of the government’s fiscal and monetary actions resulting from the effect of inflation and geopolitical tension. As of June 30, 2024, the ACL decreased by $3.8 million compared to December 31, 2023. The provision for credit losses for the six-month period ended June 30, 2024, reflected adjustments of $26.4 million related to loan volume, $4.5 million from loss rate model and $2.9 million in specific reserves, offset by a $4.9 million release from economic model. The net charge-offs for the six-month period ended June 30, 2024, amounted to $34.8 million, an increase of $18.1 million when compared to the same period of 2023. The increase is mainly due to $11.5 million from auto loans, $6.2 million from consumer loans and $1.2 million from commercial loans, mainly from higher loan volume. Net charge-offs for the six-month period ended June 30, 2024 include $3.5 million from retail commercial loans, mainly from previously and fully-reserved nonperforming paycheck protection program (“PPP”) 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, 2024 and 2023: Quarter Ended June 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 37,371 $ 7,627 $ 27,453 $ 76,316 $ 148,767 (Recapture of) provision for credit losses (1,984) (1,280) 9,308 11,039 17,083 Charge-offs (1,734) (1) (8,180) (12,559) (22,474) Recoveries 156 540 851 5,926 7,473 Balance at end of period $ 33,809 $ 6,886 $ 29,432 $ 80,722 $ 150,849 PCD: Balance at beginning of period $ 1,133 $ 6,638 $ 7 $ 18 $ 7,796 Recapture of credit losses (237) (1,060) (6) (29) (1,332) Charge-offs (265) (29) — (6) (300) Recoveries 158 93 7 30 288 Balance at end of period $ 789 $ 5,642 $ 8 $ 13 $ 6,452 Total allowance for credit losses at end of period $ 34,598 $ 12,528 $ 29,440 $ 80,735 $ 157,301 Six-Month Period Ended June 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 (Recapture of) provision for credit losses (3,390) (1,854) 16,963 22,117 33,836 Charge-offs (7,050) (65) (16,161) (26,777) (50,053) Recoveries 208 807 1,544 11,897 14,456 Balance at end of period $ 33,809 $ 6,886 $ 29,432 $ 80,722 $ 150,849 PCD: Balance at beginning of period $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Recapture of credit losses (374) (2,328) (29) (85) (2,816) Charge-offs (265) (112) — (15) (392) Recoveries 315 731 30 88 1,164 Balance at end of period $ 789 $ 5,642 $ 8 $ 13 $ 6,452 Total allowance for credit losses at end of period $ 34,598 $ 12,528 $ 29,440 $ 80,735 $ 157,301 Quarter Ended June 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 37,774 $ 9,083 $ 24,664 $ 69,864 $ 141,385 Provision for (recapture of) credit losses 14,089 (556) 4,517 (1,800) 16,250 Charge-offs (3,496) (191) (5,518) (9,169) (18,374) Recoveries 237 334 2,003 8,332 10,906 Balance at end of period $ 48,604 $ 8,670 $ 25,666 $ 67,227 $ 150,167 PCD: Balance at beginning of period $ 1,693 $ 8,717 $ 12 $ 77 $ 10,499 (Recapture of) provision for credit losses (604) (679) 78 (401) (1,606) Charge-offs — (1) (124) (34) (159) Recoveries 319 260 42 401 1,022 Balance at end of period $ 1,408 $ 8,297 $ 8 $ 43 $ 9,756 Total allowance for credit losses at end of period $ 50,012 $ 16,967 $ 25,674 $ 67,270 $ 159,923 Six-Month Period Ended June 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 Provision for (recapture of) credit losses 13,754 (1,059) 10,491 1,096 24,282 Charge-offs (4,871) (392) (10,958) (18,648) (34,869) Recoveries 563 550 2,869 14,931 18,913 Balance at end of period $ 48,604 $ 8,670 $ 25,666 $ 67,227 $ 150,167 PCD: Balance at beginning of period $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Provision for (recapture of) credit losses 1,316 (1,493) 278 (408) (307) Charge-offs (2,104) (76) (337) (121) (2,638) Recoveries 808 507 53 501 1,869 Balance at end of period $ 1,408 $ 8,297 $ 8 $ 43 $ 9,756 Total allowance for credit losses at end of period $ 50,012 $ 16,967 $ 25,674 $ 67,270 $ 159,923

FORECLOSED REAL ESTATE

FORECLOSED REAL ESTATE	6 Months Ended
	Jun. 30, 2024
Other Real Estate [Abstract]
FORECLOSED REAL ESTATE	FORECLOSED REAL ESTATE The following table presents the activity related to foreclosed real estate for the quarters and six-month periods ended June 30, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 10,850 $ 9,250 $ 10,780 $ 11,214 Additions 706 3,196 2,051 $ 4,634 Sales (5,104) (3,072) (6,930) $ (6,653) Decline in value (131) (272) (301) $ (400) Other adjustments 205 1,537 926 $ 1,844 Balance at end of period $ 6,526 $ 10,639 $ 6,526 $ 10,639

SERVICING ASSETS

SERVICING ASSETS	6 Months Ended
	Jun. 30, 2024
Transfers and Servicing [Abstract]
SERVICING ASSETS	SERVICING ASSETS OFG periodically sells or securitizes mortgage loans while retaining the obligation to perform the servicing of such loans. In addition, OFG may purchase or assume the right to service mortgage loans originated by others. Whenever OFG undertakes an obligation to service a loan, management assesses whether a servicing asset and/or liability should be recognized. A servicing asset is recognized whenever the compensation for servicing is expected to more than adequately compensate OFG for servicing the loans. Likewise, a servicing liability would be recognized in the event that servicing fees to be received are not expected to adequately compensate OFG for its expected cost. At June 30, 2024, the fair value of mortgage servicing rights was $49.8 million ($49.5 million — December 31, 2023). 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, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Fair value at beginning of period $ 49,553 $ 49,345 $ 49,520 $ 50,921 Servicing from mortgage securitization or asset transfers 303 791 830 1,365 Changes due to payments on loans (732) (1,085) (1,652) (2,150) Changes in fair value due to changes in valuation model inputs or assumptions 665 915 1,091 (170) Fair value at end of period $ 49,789 $ 49,966 $ 49,789 $ 49,966 The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value as of June 30, 2024 and 2023: Six-Month Period Ended June 30, 2024 2023 Constant prepayment rate 1.49% - 11.45% 3.49% - 21.68% 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, December 31, 2024 2023 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 49,789 49,520 Weighted average life (in years) 7.3 7.3 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (924) $ (928) Decrease in fair value due to 20% adverse change $ (1,812) $ (1,821) Discount rate Decrease in fair value due to 10% adverse change $ (2,021) $ (1,999) Decrease in fair value due to 20% adverse change $ (3,898) $ (3,856) 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 and included in the mortgage banking activities section in the consolidated statement of operations. Servicing fees on mortgage loans for the quarters ended June 30, 2024 and 2023 totaled $4.5 million and $4.8 million, respectively. Servicing fees on mortgage loans for the six-month periods ended June 30, 2024 and 2023 totaled $8.9 million and $9.8 million, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill by reportable business segment is included in the table below. Refer to “ Note 22 – Business Segments” for additional information on OFG’s reportable business segments. Banking Wealth Management Treasury Total (In thousands) December 31, 2023 $ 84,063 $ 178 $ — $ 84,241 June 30, 2024 $ 84,063 $ 178 $ — $ 84,241 There were no changes in the carrying amount of goodwill during the quarters and six-month periods ended June 30, 2024 and 2023. There were no accumulated impairment losses at June 30, 2024 and December 31, 2023. 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 2023 using October 31, 2023 as the annual evaluation date and concluded that there was no impairment at December 31, 2023. During the six-month period ended June 30, 2024, OFG performed an assessment of events or circumstances that could trigger reductions in the book value of the goodwill. Based on this assessment, no impairments were identified at June 30, 2024. The following table reflects the components of other intangible assets subject to amortization at June 30, 2024 and December 31, 2023: Gross Accumulated Net (In thousands) June 30, 2024 Core deposit intangibles $ 41,507 $ 27,923 $ 13,584 Customer relationship intangibles 12,693 8,539 4,154 Total other intangible assets $ 54,200 $ 36,462 $ 17,738 December 31, 2023 Core deposit intangibles $ 41,507 $ 25,659 $ 15,848 Customer relationship intangibles 12,693 7,847 4,846 Total other intangible assets $ 54,200 $ 33,506 $ 20,694 In connection with previous acquisitions, OFG recorded core deposit intangibles representing the value of checking and savings deposits acquired. In addition, OFG recorded customer relationship intangibles representing the value of customer relationships acquired with its acquisitions of insurance agencies. During the six-month period ended June 30, 2024, OFG performed an assessment of events or circumstances that could trigger reductions in the book value of other intangible assets. Based on this assessment, no impairments were identified at June 30, 2024. Other intangible assets have a definite useful life. Amortization of other intangible assets for the quarters ended June 30, 2024 and 2023 was $1.5 million and $1.7 million, respectively. Amortization of other intangible assets for the six-month periods ended June 30, 2024 and 2023, was $3.0 million and $3.4 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) 2024 5,913 2025 4,927 2026 3,942 2027 2,956 2028 1,971 Thereafter 985

ACCRUED INTEREST RECEIVABLE AND

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023 consists of the following: June 30, 2024 December 31, 2023 (In thousands) Loans $ 64,049 $ 63,526 Investments 8,920 7,874 $ 72,969 $ 71,400 Accrued interest receivable on loans that participated in the Hurricane Fiona and Covid-19 deferral programs amounted to $19.5 million at June 30, 2024, of which $18.7 million corresponded to loans in current status, and $20.2 million at December 31, 2023, of which $18.2 million corresponded to loans in current status. OFG estim ates expected credit losses on accrued interest receivable for loans that participated in moratorium 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, 2024 and December 31, 2023, the ACL for accrued interest receivable for loans that participated in moratorium programs amounted to $92 thousand and $85 thousand, respectively, and is included in accrued interest receivable in the statement of financial condition. Other assets at June 30, 2024 and December 31, 2023 consist of the following: June 30, 2024 December 31, 2023 (In thousands) Prepaid expenses $ 88,481 $ 63,040 Other repossessed assets 5,713 4,032 Accounts receivable and other assets 56,760 47,859 $ 150,954 $ 114,931 Prepaid expenses amounting to $88.5 million at June 30, 2024, include prepaid municipal, property and income taxes aggregating to $76.6 million. At December 31, 2023 prepaid expenses amounted to $63.0 million, including prepaid municipal, property and income taxes aggregating to $54.7 million. Other repossessed assets totaled $5.7 million and $4.0 million at June 30, 2024 and December 31, 2023, respectively, and consist of repossessed automobiles, which are recorded at their net realizable value.

DEPOSITS AND RELATED INTEREST

DEPOSITS AND RELATED INTEREST	6 Months Ended
	Jun. 30, 2024
Deposits and Related Interest [Abstract]
DEPOSITS AND RELATED INTEREST	DEPOSITS AND RELATED INTEREST Total deposits, including related accrued interest payable, as of June 30, 2024 and December 31, 2023 consist of the following: June 30, 2024 December 31, 2023 (In thousands) Non-interest-bearing demand deposits $ 2,608,902 $ 2,537,431 Interest-bearing savings and demand deposits 5,410,804 5,601,099 Retail certificates of deposit 1,142,257 1,083,316 Institutional certificates of deposit 442,869 378,143 Total core deposits 9,604,832 9,599,989 Brokered deposits 418 162,180 Total deposits $ 9,605,250 $ 9,762,169 At June 30, 2024 and December 31, 2023, the aggregate amount of uninsured deposits was $4.979 billion (52% of total deposits) and $4.885 billion (50.0% of total deposits), respectively. The weighted average interest rate of OFG’s deposits was 1.50% and 0.88%, respectively, at June 30, 2024 and December 31, 2023. Interest expense for the quarters and six-month periods ended June 30, 2024 and 2023 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Demand and savings deposits $ 26,682 $ 10,423 $ 52,748 $ 19,092 Certificates of deposit 11,130 5,493 21,856 9,321 $ 37,812 $ 15,916 $ 74,604 $ 28,413 At June 30, 2024 and December 31, 2023, time deposits in denominations of $250 thousand or higher, excluding accrued interest and unamortized discounts, amounted to $867.3 million and $747.2 million, respectively. At June 30, 2024 and December 31, 2023, total public fund deposits from various Puerto Rico government municipalities, agencies and corporations amounted to $1.577 billion and $1.616 billion, respectively. These public funds were collateralized with securities and commercial loans amounting to $1.679 billion and $1.645 billion at June 30, 2024 and December 31, 2023, respectively. Excluding accrued interest of approximately $1.8 million and $3.0 million, the scheduled maturities of certificates of deposit at June 30, 2024 and December 31, 2023 are as follows: June 30, 2024 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 312,747 $ 137,864 Over 3 months through 6 months 227,691 95,415 Over 6 months through 1 year 590,451 250,814 1,130,889 484,093 Over 1 through 2 years 308,181 93,103 Over 2 through 3 years 66,580 7,465 Over 3 through 4 years 38,804 1,699 Over 4 through 5 years 38,808 4,971 Over 5 years 527 — $ 1,583,789 $ 591,331 December 31, 2023 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 457,533 $ 115,392 Over 3 months through 6 months 195,902 61,245 Over 6 months through 1 year 329,758 113,524 983,193 290,161 Over 1 through 2 years 467,348 201,478 Over 2 through 3 years 94,450 13,971 Over 3 through 4 years 29,514 1,379 Over 4 through 5 years 45,575 4,665 Over 5 years 608 — $ 1,620,688 $ 511,654 The tables 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 $650 thousand and $564 thousand as of June 30, 2024 and December 31, 2023, respectively.

BORROWINGS AND RELATED INTEREST

BORROWINGS AND RELATED INTEREST	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
BORROWINGS AND RELATED INTEREST	BORROWINGS AND RELATED INTEREST Advances from the Federal Home Loan Bank of New York Advances are received from the FHLB 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 both June 30, 2024 and December 31, 2023, these advances were secured by mortgage and commercial loans amounting to $1.0 billion. Also, at June 30, 2024 and December 31, 2023, OFG had an additional borrowing capacity with the FHLB of $451.6 million and $446.0 million, respectively. At June 30, 2024 and December 31, 2023, the weighted average remaining maturity of FHLB advances was 8 months and 1.2 years, respectively. The original terms of the outstanding advance at June 30, 2024 due on March 2025 was 2 years. The following table shows a summary of the advances and their terms, excluding accrued interest in the amount of $741 thousand and $768 thousand at June 30, 2024 and December 31, 2023, respectively: June 30, 2024 December 31, 2023 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.52% $ 200,000 $ — Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.52% — 200,000 $ 200,000 $ 200,000 Advances from FHLB mature as follows: June 30, 2024 December 31, 2023 (In thousands) Due less than one year $ 200,000 $ — Over one to three years — 200,000 $ 200,000 $ 200,000

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES OFG 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 OFG Ventures and OFG USA, 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. OFG USA is subject to North Carolina state taxes, and current investments in OFG Ventures are subject to state taxes in Missouri. In addition, OFG’s wholly owned subsidiary, OFG Reinsurance Ltd., is tax exempt in Grand Cayman. As of June 30, 2024, OFG’s net deferred tax assets, net of a valuation allowance of $6.5 million, amounted to $4.1 million; and the net deferred tax liability, net of valuation allowance of $610 thousand, amounted to $33.9 million, reflecting the aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of OFG. As of December 31, 2023, OFG’s deferred tax asset, net of a valuation allowance of $7.0 million, amounted to $4.9 million; and net deferred tax liability, net of a valuation allowance of $569 thousand, amounted to $22.4 million, reflecting aggregate deferred tax assets or liabilities of individual tax-paying subsidiaries of OFG. The decrease in valuation allowance of $528 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, 2024. 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, 2024 and 2023 of 27.6% and 30.9%, respectively, the decrease is mainly related to exempt income, income subject to preferential tax treatment under the PR Code and a discrete tax windfall on stock options recognized during the first quarter of 2024 and discrete benefit mainly related to the purchase of tax credits during the second quarter of 2024. The expected ETR for 2024 is 29.2%. OFG classifies unrecognized tax benefits in other liabilities. These gross unrecognized tax benefits would affect the ETR if realized. At June 30, 2024, the amount of unrecognized tax benefits was $970 thousand (December 31, 2023 - $936 thousand).

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	6 Months Ended
	Jun. 30, 2024
Capital Disclosure [Abstract]
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS Regulatory Capital Requirements OFG (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by federal and Puerto Rico banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on OFG’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, OFG and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. OFG and the Bank have elected to exclude accumulated comprehensive income related to both available for sale securities and derivative valuations from Common Equity Tier 1 Capital. As of June 30, 2024 and December 31, 2023, OFG and the Bank met all capital adequacy requirements to which they are subject. As of June 30, 2024 and December 31, 2023, 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, 2024 and December 31, 2023 were 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, 2024 Total capital to risk-weighted assets $ 1,330,474 15.54 % $ 898,963 10.50 % $ 856,155 10.00 % Tier 1 capital to risk-weighted assets $ 1,223,031 14.29 % $ 727,732 8.50 % $ 684,924 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,223,031 14.29 % $ 599,308 7.00 % $ 556,501 6.50 % Tier 1 capital to average total assets $ 1,223,031 10.86 % $ 450,325 4.00 % $ 562,906 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,278,537 15.37 % $ 873,369 10.50 % $ 831,780 10.00 % Tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 707,013 8.50 % $ 665,424 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 582,246 7.00 % $ 540,657 6.50 % Tier 1 capital to average total assets $ 1,174,205 11.03 % $ 425,911 4.00 % $ 532,389 5.00 % Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of June 30, 2024 Total capital to risk-weighted assets $ 1,245,627 14.64 % $ 893,092 10.50 % $ 850,564 10.00 % Tier 1 capital to risk-weighted assets $ 1,138,874 13.39 % $ 722,979 8.50 % $ 680,451 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,138,874 13.39 % $ 595,395 7.00 % $ 552,866 6.50 % Tier 1 capital to average total assets $ 1,138,874 10.22 % $ 445,681 4.00 % $ 557,101 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,179,164 14.27 % $ 867,797 10.50 % $ 826,474 10.00 % Tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 702,503 8.50 % $ 661,179 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 578,532 7.00 % $ 537,208 6.50 % Tier 1 capital to average total assets $ 1,075,487 10.20 % $ 421,660 4.00 % $ 527,075 5.00 %

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Common Stock At both June 30, 2024 and December 31, 2023, 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, 2024 and December 31, 2023, 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, 2024 and December 31, 2023, the Bank’s legal surplus amounted to $160.6 million and $151.0 million, respectively. During the quarter and six-month period ended June 30, 2024, OFG transferred $4.8 million and $9.6 million, respectively, to the legal surplus account. During the quarter and six-month period ended June 30, 2023, OFG transferred $4.2 million and $8.7 million, respectively, to the legal surplus account. The amount transferred to the legal surplus account is not available for the payment of dividends to shareholders. Treasury Stock In January 2024, OFG announced the approval by the Board of Directors of a stock repurchase program for the purchase of up to $50 million of its outstanding shares of common stock. The new stock repurchase program, which is open-ended, replaces the prior stock repurchase program of $100 million approved by the Board of Directors in January 2022, which had a remaining balance of $17.2 million. The shares of common stock repurchased are held by OFG as treasury shares. OFG records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. During the six-month period ended June 30, 2024, OFG repurchased 669,200 shares for a total of $24.3 million at an average price of $36.28 per share. Under the prior stock repurchase program, OFG repurchased 670,099 shares for a total of $16.5 million at an average price of $24.57 per share during the six-month period ended June 30, 2023. At June 30, 2024, the estimated remaining number of shares that may be purchased under the new $50 million program is 686,741 and was calculated by dividing the remaining balance of $25.7 million by $37.45 (closing price of OFG’s common stock at June 30, 2024). OFG did not repurchase any shares of its common stock during the six-month periods ended June 30, 2024 and 2023, other than through its publicly announced stock repurchase program. The activity in connection with common shares held in treasury by OFG for the quarters and six-month periods ended June 30, 2024 and 2023 is set forth below: Quarter Ended June 30, 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 12,668,663 $ 226,896 12,273,832 $ 212,794 Common shares used upon lapse of restricted stock units and options (14,161) (227) (30,084) (137) Common shares repurchased as part of the stock repurchase programs 669,200 24,282 565,299 13,573 End of period $ 13,323,702 $ 250,951 $ 12,809,047 $ 226,230 Six-Month Period Ended June 30, 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 12,820,078 $ 228,350 12,303,859 $ 211,135 Common shares used upon lapse of restricted stock units and options (165,576) (1,681) (164,911) (1,372) Common shares repurchased as part of the stock repurchase programs 669,200 24,282 670,099 16,467 End of period 13,323,702 $ 250,951 12,809,047 $ 226,230

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss, net of income taxes, as of June 30, 2024 and December 31, 2023 consisted of: June 30, 2024 December 31, 2023 (In thousands) Unrealized loss on securities available-for-sale $ (101,810) $ (78,497) Income tax effect of unrealized loss on securities available-for-sale 15,316 11,484 Net unrealized loss on securities available-for-sale (86,494) (67,013) Accumulated other comprehensive loss, net of income taxes $ (86,494) $ (67,013) The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and six-month periods ended June 30, 2024 and 2023: Net unrealized loss on securities available-for-sale Quarter Ended June 30, 2024 Six-Month Period Ended June 30, 2024 (In thousands) Beginning balance $ (81,731) $ (67,013) Other comprehensive loss before reclassifications (4,765) (19,474) Amounts reclassified out of accumulated other comprehensive loss 2 (7) Other comprehensive loss (4,763) (19,481) Ending balance $ (86,494) $ (86,494) Quarter Ended June 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (78,512) $ 172 $ (78,340) Other comprehensive loss before reclassifications (9,980) (2,525) (12,505) Amounts reclassified out of accumulated other comprehensive loss (1,147) 2,428 1,281 Other comprehensive loss (11,127) (97) (11,224) Ending balance $ (89,639) $ 75 $ (89,564) Six-Month Period Ended June 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (93,663) $ 254 $ (93,409) Other comprehensive income (loss) before reclassifications 5,169 (3,198) 1,971 Amounts reclassified out of other comprehensive income (loss) (1,145) 3,019 1,874 Other comprehensive income (loss) 4,024 (179) 3,845 Ending balance $ (89,639) $ 75 $ (89,564) The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and six-month periods ended June 30, 2024 and 2023: Amount reclassified out of accumulated other comprehensive loss Affected Line Item in Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Cash flow hedges: Interest-rate contracts $ — $ 2,428 $ — $ 3,019 Net interest expense Available-for-sale securities: Loss on sale of investments — (1,149) (7) (1,149) Net loss on sale of securities Tax effect from changes in tax rates 2 2 — 4 Income tax expense $ 2 $ 1,281 $ (7) $ 1,874

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands, except per share data) Income available to common shareholders $ 51,131 $ 44,173 $ 100,823 $ 90,402 Average common shares outstanding 46,952 47,266 47,024 47,432 Effect of dilutive securities: Average potential common shares-options 179 224 220 284 Total weighted average common shares outstanding and equivalents 47,131 47,490 47,244 47,716 Earnings per common share - basic $ 1.09 $ 0.93 $ 2.14 $ 1.91 Earnings per common share - diluted $ 1.08 $ 0.93 $ 2.13 $ 1.89 For the quarters ended June 30, 2024 and 2023, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to zero and 147,878, respectively. For the six-month periods ended June 30, 2024 and 2023, weighted-average restricted stock units with an anti-dilutive effect on earnings per share not included in the calculation amounted to zero and 128,681, respectively. During the first quarter of 2024, OFG increased its quarterly common stock cash dividend to $0.25 per share from $0.22 per share at December 31, 2023.

GUARANTEES

GUARANTEES	6 Months Ended
	Jun. 30, 2024
Guarantees [Abstract]
GUARANTEES	GUARANTEES At June 30, 2024 and December 31, 2023 , the notional amount of the obligations undertaken in issuing the guarantees under standby letters of credit represented a liability of $25.0 million and $24.0 million, respectively. OFG has a liability for residential mortgage loans sold subject to credit recourse pursuant to FHLMC’s, GNMA’s, and FNMA’s residential mortgage loan sales and securitization programs. At June 30, 2024 and December 31, 2023 , the unpaid principal balance of residential mortgage loans sold subject to credit recourse under the residential mortgage loan sales programs was $94.5 million and $98.7 million, respectively. 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. At June 30, 2024, OFG's liability for estimated credit losses related to loans sold with credit recourse amounted to $59 thousand (December 31, 2023– $102 thousand). On May 1, 2023, OFG and a third-party servicer terminated a subservicing agreement by mutual agreement. Pursuant to such termination, the third-party servicer assumed the direct servicing of the subserviced loans pursuant to FNMA’s residential mortgage loans sales program, thereby relieving OFG of its corresponding recourse obligation under that program. The following table shows the changes in OFG’s liability for estimated losses from credit recourse agreements, included in the consolidated statements of financial condition during the quarters and six-month periods ended June 30, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 73 $ 141 $ 102 $ 147 Net recoveries (charge-offs/terminations) (14) 9 (43) 3 Balance at end of period $ 59 $ 150 $ 59 $ 150 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, 2024 and 2023, OFG repurchased $106 thousand and $545 thousand, respectively, in mortgage loans. During the six-month periods ended June 30, 2024 and 2023, OFG repurchased $240 thousand and $610 thousand, 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. 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 that 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, 2024, OFG repurchased $915 thousand (June 30, 2023 –$4.2 million) of unpaid principal balance in mortgage loans, excluding mortgage loans subject to such credit recourse provision. During the six-month period ended June 30, 2024, OFG repurchased $1.9 million (June 30, 2023- $6.4 million). At June 30, 2024 and December 31, 2023, OFG had a $275 thousand and a $405 thousand liability, respectively, for the estimated credit losses related to these loans. During the quarters ended June 30, 2024 and 2023, OFG recognized $14 thousand and $141 thousand in gains, net of reserves, respectively, from the repurchase of residential mortgage loans sold subject to credit recourse, and $21 thousand in gains and $372 thousand 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, 2024 and 2023 OFG recognized $43 thousand and $147 thousand, respectively, in gains from the repurchase of residential mortgage loans sold subject to credit recourse, and $77 thousand and $121 thousand, respectively, in losses from the repurchase of residential mortgage loans as a result of breaches of customary representations and warranties. At June 30, 2024 OFG serviced $5.6 billion (December 31, 2023 - $5.6 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 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 guarantee 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, 2024, the outstanding balance of funds advanced by OFG under such mortgage loan servicing agreements was approximately $3.7 million (December 31, 2023 - $4.2 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
	Jun. 30, 2024
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, 2024 and December 31, 2023 were as follows: June 30, 2024 December 31, 2023 (In thousands) Commitments to extend credit $ 1,424,489 $ 1,255,695 Commercial letters of credit 1,384 119 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, 2024 and December 31, 2023, 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, 2024 and December 31, 2023, is as follows: June 30, 2024 December 31, 2023 (In thousands) Standby letters of credit and financial guarantees $ 25,028 $ 23,970 Loans sold with recourse 94,456 98,685 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, 2024 and December 31, 2023, the ACL for off-balance sheet credit exposures corresponding to commitments to extend credit and standby letters of credit amounted to $833 thousand and $1.2 million, respectively, and is included in other liabilities in the statement of financial condition. At both June 30, 2024 and December 31, 2023, OFG maintained other non-credit commitments amounting to $18.9 million, 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 require us 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, 2024 and December 31, 2023, OFG had commitments for capital expenditures in technology amounting to $7.2 million and $7.8 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, 2024 and December 31, 2023, accrued liability for legal contingencies amounted to $561 thousand and $817 thousand, respectively. OFG continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. OFG also has an accrued liability for potential losses, operational errors, loss on theft not covered by insurance premiums, uncollectible receivables, among other transactions, amounting to $1.5 million and $1.4 million, respectively, as of June 30, 2024 and December 31, 2023. 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
	Jun. 30, 2024
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 2026; all are operating leases. Operating Lease Cost Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 Statement of Operations (In thousands) Lease costs $ 2,261 $ 2,608 $ 4,914 $ 5,208 Occupancy and equipment Variable lease costs 370 347 781 687 Occupancy and equipment Short-term lease costs 91 148 141 305 Occupancy and equipment Lease income (29) (17) (51) (54) Occupancy and equipment Total lease costs $ 2,693 $ 3,086 $ 5,785 $ 6,146 Operating Lease Assets and Liabilities June 30, 2024 December 31, 2023 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 20,298 $ 21,725 Operating lease right-of-use assets Lease Liabilities $ 22,605 $ 24,029 Operating leases liabilities June 30, 2024 December 31, 2023 (In thousands) Weighted-average remaining lease term 5.0 years 5.1 years Weighted-average discount rate 7.5 % 7.0 % Future minimum payments for operating leases with initial or remaining terms of one year or more as of June 30, 2024 were as follows: Minimum Rent As of June 30, 2024 (In thousands) 2024 $ 4,093 2025 6,676 2026 4,620 2027 3,793 2028 2,980 Thereafter 5,184 Total lease payments $ 27,346 Less imputed interest 4,741 Present value of lease liabilities $ 22,605 OFG, as lessor, leases and subleases real property to tenants under operating leases. As of June 30, 2024, no material lease concessions have been granted to tenants. As of June 30, 2024, OFG, as lessee, has not requested any lease concessions.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS OFG follows the fair value measurement framework under 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”). 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. At June 30, 2024, there was one security held-to-maturity, carried at amortized cost with no ACL established, classified as Level 3. 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 are mainly composed of 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, 2024 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 200,658 $ 1,895,648 $ — $ 2,096,306 Trading securities — 16 — 16 Money market investments 5,083 — — 5,083 Servicing assets — — 49,789 49,789 $ 205,741 $ 1,895,664 $ 49,789 $ 2,151,194 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 13,772 $ 13,772 Foreclosed real estate — — 6,526 6,526 Other repossessed assets — — 5,713 5,713 Mortgage loans held for sale — — 8,375 8,375 Other loans held for sale — — 12,361 12,361 $ — $ — $ 46,747 $ 46,747 December 31, 2023 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 296,799 $ 1,802,465 $ — $ 2,099,264 Trading securities — 13 — 13 Money market investments 4,623 — — 4,623 Servicing assets — — 49,520 49,520 $ 301,422 $ 1,802,478 $ 49,520 $ 2,153,420 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 8,027 $ 8,027 Foreclosed real estate — — 10,780 10,780 Other repossessed assets — — 4,032 4,032 Other loans held for sale $ — $ — $ 28,345 28,345 $ — $ — $ 51,184 $ 51,184 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 closest to June 30, 2024 and December 31, 2023, 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 June 30, 2024 and 2023: Level 3 Instruments Only Quarter Ended June 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning period $ 49,553 $ 413 $ 49,345 $ 49,758 New instruments acquired 303 — 791 791 Principal repayments and amortization (732) — (1,085) (1,085) Gains included in earnings 665 — 915 915 Gains included in other comprehensive income — 7 — 7 Balance at end of period $ 49,789 $ 420 $ 49,966 $ 50,386 Six-Month Period Ended June 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning of period $ 49,520 $ 406 $ 50,921 $ 51,327 New instruments acquired 830 — 1,365 1,365 Principal repayments and amortization (1,652) — (2,150) (2,150) Gains included in earnings 1,091 — (170) (170) Gains included in other comprehensive income — 14 — 14 Balance at end of period $ 49,789 $ 420 $ 49,966 $ 50,386 Servicing assets gains included in earnings during the quarters and six-month periods ended June 30, 2024 and 2023 were included as mortgage servicing activities in the consolidated statements of operations. For more information on the qualitative information about Level 3 fair value measurements, see Note 7 – Servicing Assets. There were no liabilities measured at fair value on a recurring basis and non-recurring basis at June 30, 2024 and December 31, 2023. The table below presents quantitative information for all assets measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at June 30, 2024 and December 31, 2023: June 30, 2024 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 49,789 Cash flow valuation Constant prepayment rate 1.49% - 11.45% 6.07 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 13,772 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.67 % Foreclosed real estate $ 6,526 Fair value of property Appraised value less disposition costs 10.00% - 33.00% 10.95 % Other repossessed assets $ 5,713 Fair value of property Estimated net realizable value less disposition costs 36.00% - 71.00% 55.48 % Mortgage loans held for sale $ 8,375 Market prices Pricing and execution whole loan 92.89% - 101.33% 98.25 % Other loans held for sale $ 12,361 Bids or sales contract prices Estimated market value 100.00% - 104.47% 100.48 % December 31, 2023 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 49,520 Cash flow valuation Constant prepayment rate 1.35% - 17.34% 6.12 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 8,027 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.00 % Foreclosed real estate $ 10,780 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 12.67 % Other repossessed assets $ 4,032 Fair value of property Estimated net realizable value less disposition costs 31.00% - 77.00% 57.72 % Other loans held for sale $ 28,345 Bids or sales contract prices Estimated market value 52.00% - 103.20% 84.80% Information about Sensitivity to Changes in Significant Unobservable Inputs 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 include 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, 2024 and December 31, 2023 was as follows: June 30, 2024 December 31, 2023 Fair Carrying Fair Carrying (In thousands) Financial Assets: Level 1 Cash and cash equivalents $ 740,429 $ 740,429 $ 748,173 $ 748,173 Investment securities available-for-sale $ 200,658 $ 200,658 $ 296,799 $ 296,799 Level 2 Financial Assets: Trading securities $ 16 $ 16 $ 13 $ 13 Investment securities available-for-sale $ 1,895,648 $ 1,895,648 $ 1,802,465 $ 1,802,465 Investment securities held-to-maturity $ 244,365 $ 303,621 $ 455,709 $ 514,024 Federal Home Loan Bank (FHLB) stock $ 15,280 $ 15,280 $ 14,488 $ 14,488 Equity securities $ 25,794 $ 25,794 $ 23,981 $ 23,981 Level 3 Financial Assets: Investment securities held-to-maturity $ 35,072 $ 35,000 $ 35,055 $ 35,000 Total loans (including loans held-for-sale) $ 7,410,349 $ 7,503,142 $ 7,282,214 $ 7,401,618 Accrued interest receivable $ 72,969 $ 72,969 $ 71,400 $ 71,400 Servicing assets $ 49,789 $ 49,789 $ 49,520 $ 49,520 Accounts receivable and other assets $ 56,760 $ 56,760 $ 47,859 $ 47,589 Financial Liabilities: Deposits $ 9,622,547 $ 9,605,250 $ 9,767,068 $ 9,762,169 Advances from FHLB $ 198,937 $ 200,741 $ 199,184 $ 200,768 Other borrowings $ — $ — $ 2 $ 2 Accrued expenses and other liabilities $ 140,410 $ 140,410 $ 115,985 $ 115,985 The following methods and assumptions were used to estimate the fair values of significant financial instruments at June 30, 2024 and December 31, 2023: • Cash and cash equivalents (including money market investments and time deposits with other banks), 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. The estimated fair value of the AFICA bond in other debt securities held-to-maturity is determined by using a detailed discounted cash flow valuation model to calculate the present value of projected future cash flows. The credit losses are recorded using the ACL methodology. This involves comparing the amortized cost of the securities with the fair value of the expected future cash flows. Several assumptions requiring a high degree of judgment include the selection of market discount rates, the determination of current credit spread, and the estimation of both the probability of default and loss given default rates. Equity securities do not have readily available fair values and are measured at cost, less any impairment. • 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 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 loan type, such as mortgage, commercial, consumer and auto. The fair value is calculated by discounting contractual cash flows. The discount rate used in such calculation considers a capital adjustment as well as other premiums for systemic risk, servicing costs, modeling and uncertainty risk, and impairment uncertainty. • 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, including advances from FHLB, 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
	Jun. 30, 2024
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, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) (In thousands) Banking service revenues: Electronic banking fees $ 14,718 $ 13,603 $ 28,408 $ 26,969 Checking accounts fees 1,894 2,184 4,061 4,404 Savings accounts fees 307 327 615 660 Credit life commissions 73 119 77 224 Branch service commissions 275 324 621 746 Servicing and other loan fees 1,325 702 1,893 1,584 International fees 184 179 356 362 Miscellaneous income 5 2 9 4 Total banking service revenues 18,781 17,440 36,040 34,953 Wealth management revenue: Insurance income 4,214 4,169 7,988 7,539 Broker fees 2,009 1,797 4,100 3,580 Trust fees 2,217 2,228 4,459 4,152 Other fees — — — 43 Total wealth management revenue 8,440 8,194 16,547 15,314 Mortgage banking activities: Net servicing fees 4,101 4,650 8,052 7,493 Net gains on sale of mortgage loans and valuation 719 790 1,372 1,559 Net gain (loss) on repurchased loans and other 44 (215) 133 71 Total mortgage banking activities 4,864 5,225 9,557 9,123 Total banking and financial service revenues $ 32,085 $ 30,859 $ 62,144 $ 59,390 OFG recognizes the revenue from banking services, wealth management and mortgage banking based on the nature and timing of revenue streams from contracts with customers: Banking Service Revenues Electronic banking fees are credit and debit card processing services, use of the Bank’s ATMs by non-customers, debit card interchange income and service charges on deposit accounts. Revenue is recorded once the contracted service has been provided. Service charges on checking and saving accounts is recognized as consumer periodic maintenance revenue once the service is rendered, while overdraft and late charges revenues are recorded after 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 generated in the sale of insurance policies issued by unaffiliated insurance companies and sale of annuities are recorded once the sale has been completed. Reinsurance revenue is recorded based on earned premium confirmed by the fronting insurance company. Contingent insurance commissions are recorded once the paying insurance companies confirm the amounts earned. Broker fees consist of two categories: • Sales commissions generated by advisers 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 advisers’ 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 provider of 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, IRA trusts, and retirement plans. These generally include payment for trustee services, distribution services, custodial services of plan assets, due diligence services, and investment advisory services. 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 generally collected on an annual or quarterly basis once the administrative service has been completed. Fees do not include future services. Mortgage Banking Activities Mortgage banking activities such as servicing fees, gain on sale of mortgage loans and valuation, and gain (loss) on repurchased loans and other are out of the scope of ASC 606.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS OFG segregates its businesses into the following 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 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, and OFG Reinsurance. The core operations of this segment are financial planning, securities brokerage services, investment advisory services, insurance, corporate and individual trust and retirement 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, 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, 2024 and 2023: Quarter Ended June 30, 2024 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 155,681 $ 4 $ 32,929 $ 188,614 $ (956) $ 187,658 Interest expense (37,654) — (3,635) (41,289) 956 (40,333) Net interest income 118,027 4 29,294 147,325 — 147,325 Provision for (recapture of) credit losses 15,589 — (8) 15,581 — 15,581 Non-interest income 24,723 7,654 99 32,476 — 32,476 Non-interest expenses (87,506) (4,623) (831) (92,960) — (92,960) Intersegment revenue 415 — — 415 (415) — Intersegment expenses — (243) (172) (415) 415 — Income before income taxes 40,070 2,792 28,398 71,260 — $ 71,260 Income tax expense 20,096 (5) 38 20,129 — 20,129 Net income $ 19,974 $ 2,797 $ 28,360 $ 51,131 $ — $ 51,131 Total assets $ 9,360,801 $ 36,217 $ 3,055,720 $ 12,452,738 $ (1,193,653) $ 11,259,085 Six-Month Period Ended June 30, 2024 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 306,676 $ 13 $ 66,426 $ 373,115 $ (2,031) $ 371,084 Interest expense (73,503) — (8,185) (81,688) 2,031 (79,657) Net interest income 233,173 13 58,241 291,427 — 291,427 Provision for (recapture of) credit losses 30,814 — (112) 30,702 — 30,702 Non-interest income, net 47,788 15,029 7 62,824 — 62,824 Non-interest expenses (173,496) (9,145) (1,731) (184,372) — (184,372) Intersegment revenue 839 — — 839 (839) — Intersegment expenses — (510) (329) (839) 839 — Income before income taxes $ 77,490 $ 5,387 $ 56,300 $ 139,177 $ — $ 139,177 Income tax expense 38,262 8 84 38,354 — 38,354 Net income $ 39,228 $ 5,379 $ 56,216 $ 100,823 $ — $ 100,823 Total assets $ 9,360,801 $ 36,217 $ 3,055,720 $ 12,452,738 $ (1,193,653) $ 11,259,085 Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, an international banking entity organized and licensed under Puerto Rico law, which operates as a unit within the Bank. The time deposit with a balance of $302.4 million and $364.2 million at June 30, 2024 and 2023, respectively, to fund Oriental Overseas operations is included in the Treasury Segment with its corresponding interest expense, and the related interest income is included in the Banking Segment, and are eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The decrease in interest income and interest expense from the prior year period was mainly as a result of lower interest rate and average balance. Quarter Ended June 30, 2023 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 139,999 $ 6 $ 22,841 $ 162,846 $ (4,858) $ 157,988 Interest expense (15,824) — (7,378) (23,202) 4,858 (18,344) Net interest income 124,175 6 15,463 139,644 — 139,644 Provision for credit losses 15,052 — (8) 15,044 — 15,044 Non-interest income 23,354 7,868 (1,149) 30,073 — 30,073 Non-interest expenses (83,876) (4,138) (874) (88,888) — (88,888) Intersegment revenue 575 — — 575 (575) — Intersegment expenses — (380) (195) (575) 575 — Income before income taxes 49,176 3,356 13,253 65,785 — 65,785 Income tax expense 21,577 20 15 21,612 — 21,612 Net income $ 27,599 $ 3,336 $ 13,238 $ 44,173 $ — $ 44,173 Total assets $ 8,720,156 $ 33,946 $ 2,338,820 $ 11,092,922 $ (1,061,375) $ 10,031,547 Six-Month Period Ended June 30, 2023 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 272,424 $ 11 $ 43,967 $ 316,402 $ (9,429) $ 306,973 Interest expense $ (28,205) $ — $ (12,656) $ (40,861) $ 9,429 $ (31,432) Net interest income $ 244,219 $ 11 $ 31,311 $ 275,541 $ — $ 275,541 Provision for credit losses $ 24,457 $ — $ 32 $ 24,489 $ — $ 24,489 Non-interest income, net $ 44,979 $ 15,144 $ (1,149) $ 58,974 $ — $ 58,974 Non-interest expenses $ (169,241) $ (8,093) $ (1,774) $ (179,108) $ — $ (179,108) Intersegment revenue $ 1,122 $ — $ — $ 1,122 $ (1,122) $ — Intersegment expenses $ — $ (758) $ (364) $ (1,122) $ 1,122 $ — Income before income taxes $ 96,622 $ 6,304 $ 27,992 $ 130,918 $ — $ 130,918 Income tax expense $ 40,469 $ 20 $ 27 $ 40,516 $ — $ 40,516 Net income $ 56,153 $ 6,284 $ 27,965 $ 90,402 $ — $ 90,402 Total assets $ 8,720,156 $ 33,946 $ 2,338,820 $ 11,092,922 $ (1,061,375) $ 10,031,547

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
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”), and OFG Ventures LLC (“OFG Ventures”), which holds investments. Through these subsidiaries and their respective divisions, OFG provides a wide range of banking and financial services such as commercial, consumer, auto, and mortgage lending, financial planning, insurance sales, investment advisory, and securities brokerage services, as well as corporate and individual trust services. The Bank has a wholly-owned operating subsidiary, OFG USA LLC (“OFG USA”), which is a commercial lender organized in Delaware. In addition, Oriental International Bank Inc. (“OIB”), a wholly-owned subsidiary of the Bank, and Oriental Overseas, a division of the Bank, are international banking entities licensed pursuant to the International Banking Center Regulatory Act of Puerto Rico, as amended. OIB and Oriental Overseas offer the Bank certain Puerto Rico tax advantages. Their activities are limited under Puerto Rico law to persons located in Puerto Rico with assets/liabilities located outside of Puerto Rico. In March 2024, the Bank organized OBPEF LLC (“OBPEF”), as a wholly-owned subsidiary of the Bank and a private equity fund under the Puerto Rico Incentives Code, as amended, which objective is to provide financing to eligible borrowers, whether in the form of senior or subordinated debt, to support the economic development of Puerto Rico. 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 (“SEC”). 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.
New Accounting Updates Not Yet Adopted	New Accounting Updates Not Yet Adopted Codification Improvements—Amendments to Remove References to the Concepts Statements. In March 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-02, which removes various references to concept statements from the FASB Accounting Standards Codification. The ASU intends to simplify the Accounting Standards Codification and distinguish between non-authoritative and authoritative guidance. For public business entities, the amendments will be effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. The amendments can be applied prospectively or retrospectively. We will adopt this guidance when it becomes effective, in the first quarter of 2025 and on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. Compensation—Stock Compensation. In March 2024, the FASB issued ASU 2024-01 to improve GAAP by adding an illustrative example to demonstrate how an entity should apply the scope guidance in paragraph 718-10-15-3 to determine whether profits interest and similar awards should be accounted for in accordance with Topic 718. The ASU 2024-01 is intended to reduce complexity and diversity in practice. For public business entities, the amendments will be effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted. Although OFG is currently evaluating the impact that the adoption of this guidance will have on its financial statements and disclosures, we do not expect the impact to be material. Segment Reporting—Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued ASU 2023-07 to enhance segment reporting by expanding the breadth and frequency of segment disclosures required for public entities. The amendments in this ASU will allow registrants to disclose multiple measures of segment profit or loss and it also clarifies that single reportable segment entities must apply Topic 280 in its entirety. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments will be effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We will adopt this guidance when it becomes effective in the annual period of 2024 on a retrospective basis to all periods presented in the financial statements, and the impact on our financial statements and disclosures is not expected to be material. Income Taxes—Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09 to enhance income tax disclosures and requests for more information about the tax risks and opportunities present in an entity’s worldwide operations. The ASU’s two primary enhancements will require further disaggregation for existing disclosures for the effective tax rate reconciliation and income taxes paid. More specifically, the amendments will require entities to disclose: a tabular effective tax rate reconciliation, broken out into specific categories with certain reconciling items above a 5% threshold further broken out by nature and jurisdiction; and income taxes paid (net of refunds received), broken out between federal, state and foreign, and net amounts paid to an individual jurisdiction that exceed 5% of the total. The amendments in this update are effective for annual periods beginning after December 15, 2024. Entities are permitted to early adopt these amendments. The amendments should be applied prospectively, but retrospective application is permitted. We will adopt this guidance when it becomes effective, in the annual period of 2025 on a prospective basis, and the impact on our financial statements and disclosures is not expected to be material. The Enhancement and Standardization of Climate-Related Disclosures for Investors. On March 6, 2024, the SEC issued a final rule under SEC Release No. 33-11275 that requires registrants to provide climate disclosures in their annual reports and registration statements. The rule includes disclosure concerning the use of carbon offsets or renewable energy credits or certificates if their use is a material component of the registrant’s plans to achieve its disclosed climate-related targets or goals, and certain disclosures about Scope 1 and/or Scope 2 greenhouse gas (“GHG”) emissions, if material. It also requires disclosures of amounts related to the effects of severe weather events and other natural conditions. The disclosure requirements will apply to OFG's fiscal year beginning January 1, 2025. We will adopt this rule when it becomes effective. OFG is currently evaluating the final rule, but the impact on our financial statements and disclosures is not expected to be material.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023 were as follows: June 30, 2024 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 $ 8,933 $ — $ 421 $ 8,512 1.98 % Due from 5 to 10 years 36,742 — 2,517 34,225 1.97 % Due after 10 years 1,512,171 5,261 69,008 1,448,424 4.28 % Total FNMA and FHLMC certificates 1,557,846 5,261 71,946 1,491,161 4.21 % GNMA certificates Due from 1 to 5 years 7,965 — 319 7,646 1.72 % Due from 5 to 10 years 13,552 7 883 12,676 2.23 % Due after 10 years 409,828 5,017 38,662 376,183 3.54 % Total GNMA certificates 431,345 5,024 39,864 396,505 3.47 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 6,896 — 274 6,622 1.78 % Due after 10 years 790 — 11 779 5.06 % Total CMOs issued by US government-sponsored agencies 7,686 — 285 7,401 2.11 % Total mortgage-backed securities 1,996,877 10,285 112,095 1,895,067 4.04 % Investment securities US Treasury securities Due less than 1 year 200,656 2 — 200,658 5.41 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 83 — 2 81 2.97 % Total other debt securities 583 — 2 581 3.21 % Total investment securities 201,239 2 2 201,239 5.41 % Total securities available for sale $ 2,198,116 $ 10,287 $ 112,097 $ 2,096,306 4.17 % June 30, 2024 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 $ 303,621 $ — $ 59,256 $ 244,365 1.72 % Investment securities Other debt securities Due from 1 to 5 years 35,000 72 — 35,072 6.33 % Total securities held to maturity $ 338,621 $ 72 $ 59,256 $ 279,437 2.20 % December 31, 2023 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 $ 6,972 — $ 311 $ 6,661 1.76 % Due from 5 to 10 years 45,835 — 2,767 43,068 2.00 % Due after 10 years 1,411,327 8,989 54,100 1,366,216 4.11 % Total FNMA and FHLMC certificates 1,464,134 8,989 57,178 1,415,945 4.03 % GNMA certificates Due less than 1 year 5 — — 5 1.31 % Due from 1 to 5 years 8,851 — 351 8,500 1.71 % Due from 5 to 10 years 17,113 16 955 16,174 2.19 % Due after 10 years 380,306 4,419 33,110 351,615 3.38 % Total GNMA certificates 406,275 4,435 34,416 376,294 3.30 % CMOs issued by US government-sponsored agencies Due from 1 to 5 years 9,071 — 364 8,707 1.78 % Due from 5 to 10 years 54 — — 54 2.14 % Due after 10 years 861 — 12 849 5.07 % Total CMOs issued by US government-sponsored agencies 9,986 — 376 9,610 2.06 % Total mortgage-backed securities 1,880,395 13,424 91,970 1,801,849 3.86 % Investment securities US Treasury securities Due less than 1 year 296,747 52 — 296,799 5.40 % Other debt securities Due less than 1 year 500 — — 500 3.25 % Due from 1 to 5 years 119 — 3 116 2.97 % Total other debt securities 619 — 3 616 3.20 % Total investment securities 297,366 52 3 297,415 5.39 % Total securities available for sale $ 2,177,761 $ 13,476 $ 91,973 $ 2,099,264 4.07 % December 31, 2023 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 $ 314,710 $ — $ 56,767 $ 257,943 1.72 % Investment securities US Treasury securities Due less than 1 year 199,314 — 1,548 197,766 3.33 % Other debt securities Due from 1 to 5 years 35,000 55 — 35,055 6.36 % Total securities held to maturity $ 549,024 $ 55 $ 58,315 $ 490,764 2.60 %
Schedule of Gross Realized Gains and Losses by Category	Six-Month Period Ended June 30, 2024 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 149,406 $ 149,413 $ — $ 7 Six-Month Period Ended June 30, 2023 Description Sale Price Book Value at Sale Gross Gains Gross Losses (In thousands) Sale of investment securities available-for-sale Investment securities US Treasury securities $ 202,133 $ 203,282 $ — $ 1,149
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 at June 30, 2024 and December 31, 2023, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: June 30, 2024 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 737,230 $ 67,814 $ 669,416 GNMA certificates 267,882 39,458 228,424 CMOs issued by US Government-sponsored agencies 7,686 285 7,401 Other debt securities 83 2 81 $ 1,012,881 $ 107,559 $ 905,322 June 30, 2024 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 197,672 $ 4,132 $ 193,540 GNMA certificates 37,603 406 37,197 $ 235,275 $ 4,538 $ 230,737 June 30, 2024 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 934,902 $ 71,946 $ 862,956 GNMA certificates 305,485 39,864 265,621 CMOs issued by US Government-sponsored agencies 7,686 285 7,401 Other debt securities 83 2 81 $ 1,248,156 $ 112,097 $ 1,136,059 The unrealized losses on OFG’s investment in federal agency mortgage-backed securities were caused by market volatility related to interest rate increases. OFG purchased those investments at a discount relative to their face amount, and the contractual cash flows of those investments are guaranteed by an agency of the U.S. government or by a government-sponsored enterprise. Accordingly, it is expected that the securities would not be settled at a price that is less than the amortized cost basis of OFG’s investments. OFG does not intend to sell the investments, and it is not more likely than not that OFG will be required to sell the investments before recovery of their amortized cost basis. December 31, 2023 12 months or more Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 731,334 $ 56,847 $ 674,487 GNMA certificates 275,669 34,364 241,305 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,017,108 $ 91,590 $ 925,518 December 31, 2023 Less than 12 months Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 106,235 $ 331 $ 105,904 GNMA certificates 7,864 52 7,812 $ 114,099 $ 383 $ 113,716 December 31, 2023 Total Amortized Unrealized Fair (In thousands) Securities available-for-sale FNMA and FHLMC certificates $ 837,569 $ 57,178 $ 780,391 GNMA certificates 283,533 34,416 249,117 CMOs issued by US Government-sponsored agencies 9,986 376 9,610 Other debt securities 119 3 116 $ 1,131,207 $ 91,973 $ 1,039,234

LOANS (Tables)

LOANS (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Loan Portfolio	The composition of the amortized cost basis of OFG’s loan portfolio at June 30, 2024 and December 31, 2023 was as follows: June 30, 2024 December 31, 2023 Non-PCD PCD Total Non-PCD PCD Total (In thousands) Commercial PR: Commercial secured by real estate $ 1,182,145 $ 114,516 $ 1,296,661 $ 1,095,207 $ 120,988 $ 1,216,195 Other commercial and industrial 1,109,608 14,068 1,123,676 1,091,021 14,459 1,105,480 2,291,753 128,584 2,420,337 2,186,228 135,447 2,321,675 Commercial US 662,026 — 662,026 755,228 — 755,228 Total commercial loans 2,953,779 128,584 3,082,363 2,941,456 135,447 3,076,903 Mortgage loans 600,031 885,096 1,485,127 629,247 933,362 1,562,609 Consumer loans: Personal loans 594,271 253 594,524 568,358 264 568,622 Credit lines 10,648 352 11,000 10,926 288 11,214 Credit cards 38,382 — 38,382 40,314 — 40,314 Overdraft 271 — 271 296 — 296 643,572 605 644,177 619,894 552 620,446 Auto loans 2,427,089 951 2,428,040 2,272,530 1,891 2,274,421 6,624,471 1,015,236 7,639,707 6,463,127 1,071,252 7,534,379 Allowance for credit losses (150,849) (6,452) (157,301) (152,610) (8,496) (161,106) Total loans held for investment, net 6,473,622 1,008,784 7,482,406 6,310,517 1,062,756 7,373,273 Mortgage loans held-for-sale 8,375 — 8,375 — — — Other loans held-for-sale 12,361 — 12,361 28,345 — 28,345 Total loans held-for-sale 20,736 — 20,736 28,345 — 28,345 Total loans, net $ 6,494,358 $ 1,008,784 $ 7,503,142 $ 6,338,862 $ 1,062,756 $ 7,401,618
Schedule of Aging of Recorded Investment in Gross Loans	June 30, 2024 30-59 Days 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 3,533 $ 2,189 $ 6,032 $ 11,754 $ 1,170,391 $ 1,182,145 $ — Other commercial and industrial 704 313 3,890 4,907 1,104,701 1,109,608 — 4,237 2,502 9,922 16,661 2,275,092 2,291,753 — Commercial US 1,042 — — 1,042 660,984 662,026 — Total commercial loans 5,279 2,502 9,922 17,703 2,936,076 2,953,779 — Mortgage loans 5,442 7,325 29,684 42,451 557,580 600,031 1,682 Consumer loans: Personal loans 6,904 4,766 2,569 14,239 580,032 594,271 — Credit lines 476 70 12 558 10,090 10,648 — Credit cards 542 281 722 1,545 36,837 38,382 — Overdraft 63 — — 63 208 271 — 7,985 5,117 3,303 16,405 627,167 643,572 — Auto loans 111,291 41,526 16,689 169,506 2,257,583 2,427,089 — Total loans $ 129,997 $ 56,470 $ 59,598 $ 246,065 $ 6,378,406 $ 6,624,471 $ 1,682 December 31, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total Loans Loans 90+ (In thousands) Commercial PR: Commercial secured by real estate $ 1,585 $ 411 $ 5,671 $ 7,667 $ 1,087,540 $ 1,095,207 $ — Other commercial and industrial 1,366 291 4,974 6,631 1,084,390 1,091,021 — 2,951 702 10,645 14,298 2,171,930 2,186,228 — Commercial US — — — — 755,228 755,228 — Total commercial loans 2,951 702 10,645 14,298 2,927,158 2,941,456 — Mortgage loans 6,107 9,596 31,557 47,260 581,987 629,247 2,478 Consumer loans: Personal loans 6,115 4,041 2,755 12,911 555,447 568,358 — Credit lines 137 35 35 207 10,719 10,926 — Credit cards 657 280 586 1,523 38,791 40,314 — Overdraft 87 14 — 101 195 296 — 6,996 4,370 3,376 14,742 605,152 619,894 — Auto loans 101,610 46,071 19,056 166,737 2,105,793 2,272,530 — Total loans $ 117,664 $ 60,739 $ 64,634 $ 243,037 $ 6,220,090 $ 6,463,127 $ 2,478
Schedule of Investment in Loans on Non-Accrual Status	The following table presents the amortized cost basis of loans held for investment on non-accrual status as of June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 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) (In thousands) Non-PCD: Commercial PR: Commercial secured by real estate $ 4,789 $ 12,865 $ 17,654 $ 3,553 $ 7,929 $ 11,482 Other commercial and industrial 1,657 2,663 4,320 4,560 830 5,390 6,446 15,528 21,974 8,113 8,759 16,872 Commercial US 12,503 — 12,503 19,224 — 19,224 Total Commercial loans 18,949 15,528 34,477 27,337 8,759 36,096 Mortgage loans 9,396 3,312 12,708 10,339 3,858 14,197 Consumer loans: Personal loans 2,564 32 2,596 2,741 14 2,755 Personal lines of credit 12 — 12 35 — 35 Credit cards 721 — 721 586 — 586 3,297 32 3,329 3,362 14 3,376 Auto loans 16,684 5 16,689 19,051 5 19,056 Total $ 48,326 $ 18,877 $ 67,203 $ 60,089 $ 12,636 $ 72,725 PCD: Commercial PR: Commercial secured by real estate $ 569 $ 3,468 $ 4,037 $ 3,060 $ 2,417 $ 5,477 Other commercial and industrial — 711 711 — 947 947 569 4,179 4,748 3,060 3,364 6,424 Mortgage loans 244 — 244 250 — 250 Total $ 813 $ 4,179 $ 4,992 $ 3,310 $ 3,364 $ 6,674 Total non-accrual loans $ 49,139 $ 23,056 $ 72,195 $ 63,399 $ 16,000 $ 79,399
Schedule of Troubled Debt Restructurings	The following tables present the amortized cost basis as of June 30, 2024 and 2023 of loans held for investment that were modified during the quarters and six-month periods ended June 30, 2024 and 2023, disaggregated by class of financing receivable and type of concession granted. Quarter Ended June 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Mortgage loans $ — — % $ 595 0.04 % $ — — % $ 92 0.01 % $ — — % Auto loans 32 — % — — % — — % — — % $ — — % Total $ 32 $ 595 $ — $ 92 $ — Six-Month Period Ended June 30, 2024 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Mortgage loans $ — — % $ 687 0.05 % $ — — % $ 92 0.01 % $ — — % Consumer: Personal loans 26 — % 7 — % — — % — — % — — % Auto loans 32 — % — — % — — % — — % — — % Total $ 58 $ 694 $ — $ 92 — Quarter Ended June 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 5,341 0.48 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 147 0.01 % — — % — — % $ — — % — — % 5,488 0.20 % — — % — — % — — % Commercial US — — % — — % — — % — — % 4,260 0.64 % Total Commercial loans $ — — % 5,488 0.20 % — — % — — % 4,260 0.64 % Mortgage loans — — % 1,827 0.11 % — — % 417 0.03 % $ 431 0.03 % Consumer: Personal loans — — % — — % — — % 58 0.01 % $ — — % Total $ — $ 7,315 $ — $ 475 $ 4,691 Six-Month Period Ended June 30, 2023 Interest Rate Reduction Term Extension Principal Forbearance / Forgiveness Combination of Term Extension and Interest Rate Reduction Combination of Term Extension and Principal Forgiveness / Forbearance Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of Amortized Cost Basis % of Total Class of (Dollars in thousands) Commercial PR: Commercial secured by real estate $ — — % $ 5,810 0.52 % $ — — % $ — — % $ — — % Other commercial and industrial — — % 147 0.01 % — — % — — % $ — — % — — % 5,957 0.21 % — — % — — % — — % Commercial US — — % — — % — — % — — % 4,260 0.64 % Total Commercial loans $ — — % 5,957 0.21 % — — % — — % 4,260 0.64 % Mortgage loans $ — — % 4,318 0.27 % $ 100 0.01 % 602 0.02 % 431 0.03 % Consumer: Personal loans — — % — — % — — % 84 0.02 % — — % Total $ — $ 10,275 $ 100 $ 686 $ 4,691 The following tables present the financial effect of the modifications granted to borrowers experiencing financial difficulty during the quarters and six-month periods ended June 30, 2024 and 2023. The financial effect of the combined modifications is presented separately by type of modification. Quarter Ended June 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Mortgage loans 0.38 % 178 — Auto loans 3.00 % 0 — Six-Month Period Ended June 30, 2024 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Mortgage loans 0.38 % 176 — Consumer loans: Personal loans 5.00 % 18 — Auto loans 3.00 % 0 — Quarter Ended June 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 25 $ — Commercial US — % 31 2,973 56 $ 2,973 Mortgage loans 1.86 % 195 20 Consumer loans: Personal loans 1.25 % 110 — Six-Month Period Ended June 30, 2023 Weighted-Average Interest Rate Reduction Weighted-Average Term Extension (In months) Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands) Commercial PR: Commercial loans secured by real estate — % 24 $ — Commercial US — % 31 $ 2,973 — % 56 $ 2,973 Mortgage loans 2.04 % 206 $ 24 Consumer loans: Personal loans 2.50 % 81 —
Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted	The following table presents the amortized cost basis as of June 30, 2024 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the prior twelve-months. Twelve-Months Ended June 30, 2024 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 108 $ — $ — $ 108 The following table presents the amortized cost basis as of June 30, 2023 of loans held for investment that had a payment default subsequent to being granted a modification to borrowers experiencing financial difficulty in the six-month period ended June 30, 2023. Six-Months Ended June 30, 2023 Amortized Cost Basis of Modified Financing Receivables that Subsequently Defaulted Interest Rate Reduction Term Extension Principal Forgiveness/Forbearance Combination - Term Extension and Interest Rate Reduction Total (In thousands) Mortgage loans $ — $ 415 $ — $ — $ 415
Financing Receivable, Modified, Past Due	The following table presents the payment status of loans that have been modified in the twelve-months period ended June 30, 2024 and in the six-month period ended June 30, 2023 that were granted to borrowers experiencing financial difficulty. June 30, 2024 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial loans: Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 136 $ 136 Other commercial and industrial — — — — 626 626 — — — — 762 762 Commercial US — — — — 2,711 2,711 — — — — 3,473 3,473 Mortgage loans 315 29 108 452 1,983 2,435 Consumer loans: Personal loans — — — — 70 70 Auto loans — — — — 138 138 Total $ 315 $ 29 $ 108 $ 452 $ 5,664 $ 6,116 June 30, 2023 30-59 Day 60-89 Days 90+ Days Total Past Current Total (In thousands) Commercial PR: Commercial loans secured by real estate $ — $ — $ — $ — $ 5,810 $ 5,810 Other commercial and industrial — — — — 147 147 Commercial US — — — — 4,260 4,260 — — — — 10,217 10,217 Mortgage loans — 122 415 537 4,914 5,451 Consumer loans: Personal loans — — — — 84 84 Total $ — $ 122 $ 415 $ 537 $ 15,215 $ 15,752
Schedule of the Amortized Cost of Collateral-Dependent Loans Held for Investment	The table below presents the amortized cost of commercial collateral-dependent loans held for investment at June 30, 2024 and December 31, 2023, by class of loans. June 30, December 31, 2024 2023 (In thousands) Commercial PR: Commercial loans secured by real estate $ 13,772 $ 8,027
Schedule of Credit Quality Indicators of Loans	As of June 30, 2024, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans, and current year-to-date period gross charge-offs by year of origination is as follows: Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 110,497 $ 221,993 $ 223,863 $ 193,443 $ 109,474 $ 208,712 $ 61,271 $ 1,129,253 Special Mention — — 7,298 6,375 4,702 13,031 113 31,519 Substandard — 745 454 1,400 1,206 15,940 1,628 21,373 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial secured by real estate 110,497 222,738 231,615 201,218 115,382 237,683 63,012 1,182,145 Commercial secured by real estate: YTD gross charge-offs — — — — — 7 — 7 Other commercial and industrial: Loan grade: Pass 74,157 282,784 71,959 54,624 29,347 17,785 524,959 1,055,615 Special Mention — 5 2,695 45,033 2 147 1,060 48,942 Substandard — 142 313 914 226 1,023 2,433 5,051 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 74,157 282,931 74,967 100,571 29,575 18,955 528,452 1,109,608 Other commercial and industrial: YTD gross charge-offs 114 50 237 3,307 — 11 — 3,719 Commercial US: Loan grade: Pass 35,163 131,419 49,463 59,225 29,467 29,215 285,887 619,839 Special Mention — — — — — — 9,841 9,841 Substandard 6,532 6,730 2,728 7,613 — 5,698 635 29,936 Doubtful 2,410 — — — — — — 2,410 Loss — — — — — — — — Total Commercial US: 44,105 138,149 52,191 66,838 29,467 34,913 296,363 662,026 Commercial US: YTD gross charge-offs — — 392 1,749 — 1,183 — 3,324 Total commercial loans $ 228,759 $ 643,818 $ 358,773 $ 368,627 $ 174,424 $ 291,551 $ 887,827 $ 2,953,779 Total YTD gross charge-offs $ 114 $ 50 $ 629 $ 5,056 $ — $ 1,201 $ — $ 7,050 As of December 31, 2023, and based on the most recent analysis performed, the risk category of loans held for investment subject to risk rating by class of loans is as follows: Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Commercial PR: Commercial secured by real estate: Loan grade: Pass $ 224,598 $ 216,205 $ 195,884 $ 120,489 $ 80,671 $ 131,016 $ 65,873 $ 1,034,736 Special Mention — 1,772 6,554 5,057 15,676 12,500 153 41,712 Substandard — 459 1,386 1,109 2,615 11,939 1,236 18,744 Doubtful — — — — — 15 — 15 Loss — — — — — — — — Total commercial secured by real estate 224,598 218,436 203,824 126,655 98,962 155,470 67,262 1,095,207 Commercial secured by real estate: YTD gross charge-offs — — 265 — 94 820 — 1,179 Other commercial and industrial: Loan grade: Pass 284,615 99,522 113,760 37,665 7,438 14,836 527,008 1,084,844 Special Mention 8 2,953 — — 51 100 — 3,112 Substandard 3 473 826 259 935 186 383 3,065 Doubtful — — — — — — — — Loss — — — — — — — — Total other commercial and industrial: 284,626 102,948 114,586 37,924 8,424 15,122 527,391 1,091,021 Other commercial and industrial: YTD gross charge-offs — 124 1,095 89 9 1,180 — 2,497 Commercial US: Loan grade: Pass 142,222 63,885 69,233 31,206 28,202 8,085 358,757 701,590 Special Mention — 7,803 — — — — 20,913 28,716 Substandard 10,832 — — — — 5,699 8,391 24,922 Doubtful — — — — — — — — Loss — — — — — — — — Total Commercial US: 153,054 71,688 69,233 31,206 28,202 13,784 388,061 755,228 Commercial US: YTD gross charge-offs 33 1,156 642 47 — 8,637 — 10,515 Total commercial loans $ 662,278 $ 393,072 $ 387,643 $ 195,785 $ 135,588 $ 184,376 $ 982,714 $ 2,941,456 Total YTD gross charge-offs $ 33 $ 1,280 $ 2,002 $ 136 $ 103 $ 10,637 $ — $ 14,191 Term Loans Revolving Total 2024 2023 2022 2021 2020 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 10,304 $ 17,149 $ 19,296 $ 22,321 $ 15,094 $ 498,542 $ — $ 582,706 Nonperforming — 650 — 172 105 16,398 — 17,325 Total mortgage loans: 10,304 17,799 19,296 22,493 15,199 514,940 — 600,031 Mortgage loans: YTD gross charge-offs — — — — — 65 — 65 Consumer loans: Personal loans: Payment performance: Performing 140,402 223,895 146,898 52,589 14,925 12,966 — 591,675 Nonperforming 69 820 1,105 416 76 110 — 2,596 Total personal loans 140,471 224,715 148,003 53,005 15,001 13,076 — 594,271 Personal loans: YTD gross charge-offs 56 4,355 6,759 2,036 425 735 — 14,366 Credit lines: Payment performance: Performing — — — — — — 10,636 10,636 Nonperforming — — — — — — 12 12 Total credit lines — — — — — — 10,648 10,648 Credit lines: YTD gross charge-offs — — — — — — 88 88 Credit cards: Payment performance: Performing — — — — — — 37,661 37,661 Nonperforming — — — — — — 721 721 Total credit cards — — — — — — 38,382 38,382 Credit cards: YTD gross charge-offs — — — — — — 1,165 1,165 Overdrafts: Payment performance: Performing — — — — — — 271 271 Nonperforming — — — — — — — — Total overdrafts — — — — — — 271 271 Overdrafts: YTD gross charge-offs — — — — — — 542 542 Total consumer loans 140,471 224,715 148,003 53,005 15,001 13,076 49,301 643,572 Total consumer loans YTD gross charge-offs 56 4,355 6,759 2,036 425 735 1,795 16,161 Total mortgage and consumer loans $ 150,775 $ 242,514 $ 167,299 $ 75,498 $ 30,200 $ 528,016 $ 49,301 $ 1,243,603 Total mortgage and consumer loans YTD gross charge-offs $ 56 $ 4,355 $ 6,759 $ 2,036 $ 425 $ 800 $ 1,795 $ 16,226 The following table presents the amortized cost in mortgage and consumer loans held for investment based on payment activity as of December 31, 2023 : Term Loans Revolving Total 2023 2022 2021 2020 2019 Prior (In thousands) Mortgage loans: Payment performance: Performing $ 24,623 $ 19,722 $ 23,303 $ 15,821 $ 14,589 $ 511,182 $ — $ 609,240 Nonperforming $ — — 181 108 479 19,239 — 20,007 Total mortgage loans: 24,623 19,722 23,484 15,929 15,068 530,421 — 629,247 Mortgage loans: YTD gross charge-offs $ — 4 — — — 755 — 759 Consumer loans: Personal loans: Payment performance: Performing 270,883 186,612 68,133 19,185 14,460 6,330 — $ 565,603 Nonperforming 503 1,588 304 193 66 101 — 2,755 Total personal loans 271,386 188,200 68,437 19,378 14,526 6,431 — 568,358 Personal loans: YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 — 19,866 Credit lines: Payment performance: Performing — — — — — — 10,891 $ 10,891 Nonperforming — — — — — — 35 35 Total credit lines — — — — — — 10,926 10,926 Credit lines: YTD gross charge-offs — — — — — — 419 419 Credit cards: Payment performance: Performing — — — — — — 39,728 $ 39,728 Nonperforming — — — — — — 586 586 Total credit cards — — — — — — 40,314 40,314 Credit cards: YTD gross charge-offs — — — — — — 2,825 2,825 Overdrafts: Payment performance: Performing — — — — — — 296 $ 296 Nonperforming — — — — — — — — Total overdrafts — — — — — — 296 296 Overdrafts: YTD gross charge-offs — — — — — — 545 545 Total consumer loans 271,383 188,200 68,437 19,378 14,526 6,431 51,536 619,894 Total consumer loans YTD gross charge-offs 1,748 10,512 4,661 830 1,384 731 3,789 23,655 Total mortgage and consumer loans $ 296,009 $ 207,922 $ 91,921 $ 35,307 $ 29,594 $ 536,852 $ 51,536 $ 1,249,141 Total mortgage and consumer loans YTD gross charge-offs $ 1,748 $ 10,516 $ 4,661 $ 830 $ 1,384 $ 1,486 $ 3,789 $ 24,414 Term Loans Total 2024 2023 2022 2021 2020 Prior (In thousands) Auto loans: FICO score: 1-660 72,253 193,855 178,546 106,187 48,537 56,594 655,972 661-699 86,699 148,429 88,989 45,869 20,872 22,658 413,516 700+ 265,909 443,723 282,292 157,960 84,776 98,252 1,332,912 No FICO 2,901 7,107 6,117 4,014 1,759 2,791 24,689 Total auto loans $ 427,762 $ 793,114 $ 555,944 $ 314,030 $ 155,944 $ 180,295 $ 2,427,089 Auto loans: YTD gross charge-offs $ 137 $ 9,196 $ 9,310 $ 3,889 $ 1,784 $ 2,461 $ 26,777 The following table presents the amortized cost in auto loans held for investment based on their most recent FICO score as of December 31, 2023 : Term Loans Total 2023 2022 2021 2020 2019 Prior (In thousands) Auto loans: FICO score: 1-660 170,639 190,743 118,821 57,087 41,124 38,570 616,984 661-699 169,430 110,260 58,166 25,886 18,253 16,137 398,132 700+ 474,005 323,514 183,286 103,886 88,929 58,779 1,232,399 No FICO 6,203 6,537 4,592 2,200 3,886 1,597 25,015 Total auto loans $ 820,277 $ 631,054 $ 364,865 $ 189,059 $ 152,192 $ 115,083 $ 2,272,530 Auto loans: YTD gross charge-offs $ 4,090 $ 18,142 $ 10,894 $ 4,008 $ 3,380 $ 3,250 $ 43,764

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023: Quarter Ended June 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 37,371 $ 7,627 $ 27,453 $ 76,316 $ 148,767 (Recapture of) provision for credit losses (1,984) (1,280) 9,308 11,039 17,083 Charge-offs (1,734) (1) (8,180) (12,559) (22,474) Recoveries 156 540 851 5,926 7,473 Balance at end of period $ 33,809 $ 6,886 $ 29,432 $ 80,722 $ 150,849 PCD: Balance at beginning of period $ 1,133 $ 6,638 $ 7 $ 18 $ 7,796 Recapture of credit losses (237) (1,060) (6) (29) (1,332) Charge-offs (265) (29) — (6) (300) Recoveries 158 93 7 30 288 Balance at end of period $ 789 $ 5,642 $ 8 $ 13 $ 6,452 Total allowance for credit losses at end of period $ 34,598 $ 12,528 $ 29,440 $ 80,735 $ 157,301 Six-Month Period Ended June 30, 2024 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 44,041 $ 7,998 $ 27,086 $ 73,485 $ 152,610 (Recapture of) provision for credit losses (3,390) (1,854) 16,963 22,117 33,836 Charge-offs (7,050) (65) (16,161) (26,777) (50,053) Recoveries 208 807 1,544 11,897 14,456 Balance at end of period $ 33,809 $ 6,886 $ 29,432 $ 80,722 $ 150,849 PCD: Balance at beginning of period $ 1,113 $ 7,351 $ 7 $ 25 $ 8,496 Recapture of credit losses (374) (2,328) (29) (85) (2,816) Charge-offs (265) (112) — (15) (392) Recoveries 315 731 30 88 1,164 Balance at end of period $ 789 $ 5,642 $ 8 $ 13 $ 6,452 Total allowance for credit losses at end of period $ 34,598 $ 12,528 $ 29,440 $ 80,735 $ 157,301 Quarter Ended June 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 37,774 $ 9,083 $ 24,664 $ 69,864 $ 141,385 Provision for (recapture of) credit losses 14,089 (556) 4,517 (1,800) 16,250 Charge-offs (3,496) (191) (5,518) (9,169) (18,374) Recoveries 237 334 2,003 8,332 10,906 Balance at end of period $ 48,604 $ 8,670 $ 25,666 $ 67,227 $ 150,167 PCD: Balance at beginning of period $ 1,693 $ 8,717 $ 12 $ 77 $ 10,499 (Recapture of) provision for credit losses (604) (679) 78 (401) (1,606) Charge-offs — (1) (124) (34) (159) Recoveries 319 260 42 401 1,022 Balance at end of period $ 1,408 $ 8,297 $ 8 $ 43 $ 9,756 Total allowance for credit losses at end of period $ 50,012 $ 16,967 $ 25,674 $ 67,270 $ 159,923 Six-Month Period Ended June 30, 2023 Commercial Mortgage Consumer Auto Total (In thousands) Non-PCD: Balance at beginning of period $ 39,158 $ 9,571 $ 23,264 $ 69,848 $ 141,841 Provision for (recapture of) credit losses 13,754 (1,059) 10,491 1,096 24,282 Charge-offs (4,871) (392) (10,958) (18,648) (34,869) Recoveries 563 550 2,869 14,931 18,913 Balance at end of period $ 48,604 $ 8,670 $ 25,666 $ 67,227 $ 150,167 PCD: Balance at beginning of period $ 1,388 $ 9,359 $ 14 $ 71 $ 10,832 Provision for (recapture of) credit losses 1,316 (1,493) 278 (408) (307) Charge-offs (2,104) (76) (337) (121) (2,638) Recoveries 808 507 53 501 1,869 Balance at end of period $ 1,408 $ 8,297 $ 8 $ 43 $ 9,756 Total allowance for credit losses at end of period $ 50,012 $ 16,967 $ 25,674 $ 67,270 $ 159,923

FORECLOSED REAL ESTATE (Tables)

FORECLOSED REAL ESTATE (Tables)	6 Months Ended
	Jun. 30, 2024
Other Real Estate [Abstract]
Schedule of Foreclosed Real Estate Rollforward	The following table presents the activity related to foreclosed real estate for the quarters and six-month periods ended June 30, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 10,850 $ 9,250 $ 10,780 $ 11,214 Additions 706 3,196 2,051 $ 4,634 Sales (5,104) (3,072) (6,930) $ (6,653) Decline in value (131) (272) (301) $ (400) Other adjustments 205 1,537 926 $ 1,844 Balance at end of period $ 6,526 $ 10,639 $ 6,526 $ 10,639

SERVICING ASSETS (Tables)

SERVICING ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Fair value at beginning of period $ 49,553 $ 49,345 $ 49,520 $ 50,921 Servicing from mortgage securitization or asset transfers 303 791 830 1,365 Changes due to payments on loans (732) (1,085) (1,652) (2,150) Changes in fair value due to changes in valuation model inputs or assumptions 665 915 1,091 (170) Fair value at end of period $ 49,789 $ 49,966 $ 49,789 $ 49,966
Schedule of Key Economic Assumptions	The following table presents key economic assumption ranges used in measuring the mortgage-related servicing asset fair value as of June 30, 2024 and 2023: Six-Month Period Ended June 30, 2024 2023 Constant prepayment rate 1.49% - 11.45% 3.49% - 21.68% 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, December 31, 2024 2023 (In thousands) Mortgage-related servicing asset Carrying value of mortgage servicing asset $ 49,789 49,520 Weighted average life (in years) 7.3 7.3 Constant prepayment rate Decrease in fair value due to 10% adverse change $ (924) $ (928) Decrease in fair value due to 20% adverse change $ (1,812) $ (1,821) Discount rate Decrease in fair value due to 10% adverse change $ (2,021) $ (1,999) Decrease in fair value due to 20% adverse change $ (3,898) $ (3,856)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill by reportable business segment is included in the table below. Refer to “ Note 22 – Business Segments” for additional information on OFG’s reportable business segments. Banking Wealth Management Treasury Total (In thousands) December 31, 2023 $ 84,063 $ 178 $ — $ 84,241 June 30, 2024 $ 84,063 $ 178 $ — $ 84,241
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, 2024 and December 31, 2023: Gross Accumulated Net (In thousands) June 30, 2024 Core deposit intangibles $ 41,507 $ 27,923 $ 13,584 Customer relationship intangibles 12,693 8,539 4,154 Total other intangible assets $ 54,200 $ 36,462 $ 17,738 December 31, 2023 Core deposit intangibles $ 41,507 $ 25,659 $ 15,848 Customer relationship intangibles 12,693 7,847 4,846 Total other intangible assets $ 54,200 $ 33,506 $ 20,694
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) 2024 5,913 2025 4,927 2026 3,942 2027 2,956 2028 1,971 Thereafter 985

ACCRUED INTEREST RECEIVABLE A_2

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Interest Receivable and Other Assets [Abstract]
Schedule of Accrued Interest Receivable	Accrued interest receivable at June 30, 2024 and December 31, 2023 consists of the following: June 30, 2024 December 31, 2023 (In thousands) Loans $ 64,049 $ 63,526 Investments 8,920 7,874 $ 72,969 $ 71,400
Schedule of Other Assets	Other assets at June 30, 2024 and December 31, 2023 consist of the following: June 30, 2024 December 31, 2023 (In thousands) Prepaid expenses $ 88,481 $ 63,040 Other repossessed assets 5,713 4,032 Accounts receivable and other assets 56,760 47,859 $ 150,954 $ 114,931

DEPOSITS AND RELATED INTEREST (

DEPOSITS AND RELATED INTEREST (Tables)	6 Months Ended
	Jun. 30, 2024
Deposits and Related Interest [Abstract]
Schedule of Deposits by Component	Total deposits, including related accrued interest payable, as of June 30, 2024 and December 31, 2023 consist of the following: June 30, 2024 December 31, 2023 (In thousands) Non-interest-bearing demand deposits $ 2,608,902 $ 2,537,431 Interest-bearing savings and demand deposits 5,410,804 5,601,099 Retail certificates of deposit 1,142,257 1,083,316 Institutional certificates of deposit 442,869 378,143 Total core deposits 9,604,832 9,599,989 Brokered deposits 418 162,180 Total deposits $ 9,605,250 $ 9,762,169
Schedule of Interest Expense	Interest expense for the quarters and six-month periods ended June 30, 2024 and 2023 was as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Demand and savings deposits $ 26,682 $ 10,423 $ 52,748 $ 19,092 Certificates of deposit 11,130 5,493 21,856 9,321 $ 37,812 $ 15,916 $ 74,604 $ 28,413
Schedule of Time Deposit Maturities	Excluding accrued interest of approximately $1.8 million and $3.0 million, the scheduled maturities of certificates of deposit at June 30, 2024 and December 31, 2023 are as follows: June 30, 2024 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 312,747 $ 137,864 Over 3 months through 6 months 227,691 95,415 Over 6 months through 1 year 590,451 250,814 1,130,889 484,093 Over 1 through 2 years 308,181 93,103 Over 2 through 3 years 66,580 7,465 Over 3 through 4 years 38,804 1,699 Over 4 through 5 years 38,808 4,971 Over 5 years 527 — $ 1,583,789 $ 591,331 December 31, 2023 Period-end amount Uninsured amount (In thousands) Within one year: Three months or less $ 457,533 $ 115,392 Over 3 months through 6 months 195,902 61,245 Over 6 months through 1 year 329,758 113,524 983,193 290,161 Over 1 through 2 years 467,348 201,478 Over 2 through 3 years 94,450 13,971 Over 3 through 4 years 29,514 1,379 Over 4 through 5 years 45,575 4,665 Over 5 years 608 — $ 1,620,688 $ 511,654

BORROWINGS AND RELATED INTERE_2

BORROWINGS AND RELATED INTEREST (Tables)	6 Months Ended
	Jun. 30, 2024
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 $741 thousand and $768 thousand at June 30, 2024 and December 31, 2023, respectively: June 30, 2024 December 31, 2023 (In thousands) Short-term fixed-rate advances from FHLB, with a weighted average interest rate of 4.52% $ 200,000 $ — Long-term fixed-rate advance from FHLB, with a weighted average interest rate of 4.52% — 200,000 $ 200,000 $ 200,000 Advances from FHLB mature as follows: June 30, 2024 December 31, 2023 (In thousands) Due less than one year $ 200,000 $ — Over one to three years — 200,000 $ 200,000 $ 200,000

REGULATORY CAPITAL REQUIREMEN_2

REGULATORY CAPITAL REQUIREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023 were 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, 2024 Total capital to risk-weighted assets $ 1,330,474 15.54 % $ 898,963 10.50 % $ 856,155 10.00 % Tier 1 capital to risk-weighted assets $ 1,223,031 14.29 % $ 727,732 8.50 % $ 684,924 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,223,031 14.29 % $ 599,308 7.00 % $ 556,501 6.50 % Tier 1 capital to average total assets $ 1,223,031 10.86 % $ 450,325 4.00 % $ 562,906 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,278,537 15.37 % $ 873,369 10.50 % $ 831,780 10.00 % Tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 707,013 8.50 % $ 665,424 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,174,205 14.12 % $ 582,246 7.00 % $ 540,657 6.50 % Tier 1 capital to average total assets $ 1,174,205 11.03 % $ 425,911 4.00 % $ 532,389 5.00 % Actual Minimum Capital Minimum to be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Bank Ratios As of June 30, 2024 Total capital to risk-weighted assets $ 1,245,627 14.64 % $ 893,092 10.50 % $ 850,564 10.00 % Tier 1 capital to risk-weighted assets $ 1,138,874 13.39 % $ 722,979 8.50 % $ 680,451 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,138,874 13.39 % $ 595,395 7.00 % $ 552,866 6.50 % Tier 1 capital to average total assets $ 1,138,874 10.22 % $ 445,681 4.00 % $ 557,101 5.00 % As of December 31, 2023 Total capital to risk-weighted assets $ 1,179,164 14.27 % $ 867,797 10.50 % $ 826,474 10.00 % Tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 702,503 8.50 % $ 661,179 8.00 % Common equity tier 1 capital to risk-weighted assets $ 1,075,487 13.01 % $ 578,532 7.00 % $ 537,208 6.50 % Tier 1 capital to average total assets $ 1,075,487 10.20 % $ 421,660 4.00 % $ 527,075 5.00 %

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Activity of Common Shares Held in Treasury	The activity in connection with common shares held in treasury by OFG for the quarters and six-month periods ended June 30, 2024 and 2023 is set forth below: Quarter Ended June 30, 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 12,668,663 $ 226,896 12,273,832 $ 212,794 Common shares used upon lapse of restricted stock units and options (14,161) (227) (30,084) (137) Common shares repurchased as part of the stock repurchase programs 669,200 24,282 565,299 13,573 End of period $ 13,323,702 $ 250,951 $ 12,809,047 $ 226,230 Six-Month Period Ended June 30, 2024 2023 Shares Dollar Shares Dollar (In thousands, except shares data) Beginning of period 12,820,078 $ 228,350 12,303,859 $ 211,135 Common shares used upon lapse of restricted stock units and options (165,576) (1,681) (164,911) (1,372) Common shares repurchased as part of the stock repurchase programs 669,200 24,282 670,099 16,467 End of period 13,323,702 $ 250,951 12,809,047 $ 226,230

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss, net of income taxes, as of June 30, 2024 and December 31, 2023 consisted of: June 30, 2024 December 31, 2023 (In thousands) Unrealized loss on securities available-for-sale $ (101,810) $ (78,497) Income tax effect of unrealized loss on securities available-for-sale 15,316 11,484 Net unrealized loss on securities available-for-sale (86,494) (67,013) Accumulated other comprehensive loss, net of income taxes $ (86,494) $ (67,013) The following table presents changes in accumulated other comprehensive loss by component, net of taxes, for the quarters and six-month periods ended June 30, 2024 and 2023: Net unrealized loss on securities available-for-sale Quarter Ended June 30, 2024 Six-Month Period Ended June 30, 2024 (In thousands) Beginning balance $ (81,731) $ (67,013) Other comprehensive loss before reclassifications (4,765) (19,474) Amounts reclassified out of accumulated other comprehensive loss 2 (7) Other comprehensive loss (4,763) (19,481) Ending balance $ (86,494) $ (86,494) Quarter Ended June 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (78,512) $ 172 $ (78,340) Other comprehensive loss before reclassifications (9,980) (2,525) (12,505) Amounts reclassified out of accumulated other comprehensive loss (1,147) 2,428 1,281 Other comprehensive loss (11,127) (97) (11,224) Ending balance $ (89,639) $ 75 $ (89,564) Six-Month Period Ended June 30, 2023 Net unrealized Net unrealized Accumulated (In thousands) Beginning balance $ (93,663) $ 254 $ (93,409) Other comprehensive income (loss) before reclassifications 5,169 (3,198) 1,971 Amounts reclassified out of other comprehensive income (loss) (1,145) 3,019 1,874 Other comprehensive income (loss) 4,024 (179) 3,845 Ending balance $ (89,639) $ 75 $ (89,564)
Schedule of Reclassifications Out of Other Comprehensive Income	The following table presents reclassifications out of accumulated other comprehensive loss for the quarters and six-month periods ended June 30, 2024 and 2023: Amount reclassified out of accumulated other comprehensive loss Affected Line Item in Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Cash flow hedges: Interest-rate contracts $ — $ 2,428 $ — $ 3,019 Net interest expense Available-for-sale securities: Loss on sale of investments — (1,149) (7) (1,149) Net loss on sale of securities Tax effect from changes in tax rates 2 2 — 4 Income tax expense $ 2 $ 1,281 $ (7) $ 1,874

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023 is as follows: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands, except per share data) Income available to common shareholders $ 51,131 $ 44,173 $ 100,823 $ 90,402 Average common shares outstanding 46,952 47,266 47,024 47,432 Effect of dilutive securities: Average potential common shares-options 179 224 220 284 Total weighted average common shares outstanding and equivalents 47,131 47,490 47,244 47,716 Earnings per common share - basic $ 1.09 $ 0.93 $ 2.14 $ 1.91 Earnings per common share - diluted $ 1.08 $ 0.93 $ 2.13 $ 1.89

GUARANTEES (Tables)

GUARANTEES (Tables)	6 Months Ended
	Jun. 30, 2024
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 credit recourse agreements, included in the consolidated statements of financial condition during the quarters and six-month periods ended June 30, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) Balance at beginning of period $ 73 $ 141 $ 102 $ 147 Net recoveries (charge-offs/terminations) (14) 9 (43) 3 Balance at end of period $ 59 $ 150 $ 59 $ 150

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Credit-Related Financial Instruments	Credit-related financial instruments at June 30, 2024 and December 31, 2023 were as follows: June 30, 2024 December 31, 2023 (In thousands) Commitments to extend credit $ 1,424,489 $ 1,255,695 Commercial letters of credit 1,384 119 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, 2024 and December 31, 2023, is as follows: June 30, 2024 December 31, 2023 (In thousands) Standby letters of credit and financial guarantees $ 25,028 $ 23,970 Loans sold with recourse 94,456 98,685

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Lessee Disclosure [Abstract]
Schedule of Operating Lease Cost	Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 Statement of Operations (In thousands) Lease costs $ 2,261 $ 2,608 $ 4,914 $ 5,208 Occupancy and equipment Variable lease costs 370 347 781 687 Occupancy and equipment Short-term lease costs 91 148 141 305 Occupancy and equipment Lease income (29) (17) (51) (54) Occupancy and equipment Total lease costs $ 2,693 $ 3,086 $ 5,785 $ 6,146
Schedule of Operating Lease Assets and Liabilities	June 30, 2024 December 31, 2023 Statement of Financial Condition Classification (In thousands) Right-of-use assets $ 20,298 $ 21,725 Operating lease right-of-use assets Lease Liabilities $ 22,605 $ 24,029 Operating leases liabilities
Schedule of Operating Lease, Other Information	June 30, 2024 December 31, 2023 (In thousands) Weighted-average remaining lease term 5.0 years 5.1 years Weighted-average discount rate 7.5 % 7.0 %
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, 2024 were as follows: Minimum Rent As of June 30, 2024 (In thousands) 2024 $ 4,093 2025 6,676 2026 4,620 2027 3,793 2028 2,980 Thereafter 5,184 Total lease payments $ 27,346 Less imputed interest 4,741 Present value of lease liabilities $ 22,605

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 200,658 $ 1,895,648 $ — $ 2,096,306 Trading securities — 16 — 16 Money market investments 5,083 — — 5,083 Servicing assets — — 49,789 49,789 $ 205,741 $ 1,895,664 $ 49,789 $ 2,151,194 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 13,772 $ 13,772 Foreclosed real estate — — 6,526 6,526 Other repossessed assets — — 5,713 5,713 Mortgage loans held for sale — — 8,375 8,375 Other loans held for sale — — 12,361 12,361 $ — $ — $ 46,747 $ 46,747 December 31, 2023 Fair Value Measurements Level 1 Level 2 Level 3 Total (In thousands) Recurring fair value measurements: Investment securities available-for-sale $ 296,799 $ 1,802,465 $ — $ 2,099,264 Trading securities — 13 — 13 Money market investments 4,623 — — 4,623 Servicing assets — — 49,520 49,520 $ 301,422 $ 1,802,478 $ 49,520 $ 2,153,420 Non-recurring fair value measurements: Collateral dependent loans $ — $ — $ 8,027 $ 8,027 Foreclosed real estate — — 10,780 10,780 Other repossessed assets — — 4,032 4,032 Other loans held for sale $ — $ — $ 28,345 28,345 $ — $ — $ 51,184 $ 51,184
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 June 30, 2024 and 2023: Level 3 Instruments Only Quarter Ended June 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning period $ 49,553 $ 413 $ 49,345 $ 49,758 New instruments acquired 303 — 791 791 Principal repayments and amortization (732) — (1,085) (1,085) Gains included in earnings 665 — 915 915 Gains included in other comprehensive income — 7 — 7 Balance at end of period $ 49,789 $ 420 $ 49,966 $ 50,386 Six-Month Period Ended June 30, 2024 2023 Servicing Assets Other debt securities available for sale Servicing Assets Total (In thousands) Balance at beginning of period $ 49,520 $ 406 $ 50,921 $ 51,327 New instruments acquired 830 — 1,365 1,365 Principal repayments and amortization (1,652) — (2,150) (2,150) Gains included in earnings 1,091 — (170) (170) Gains included in other comprehensive income — 14 — 14 Balance at end of period $ 49,789 $ 420 $ 49,966 $ 50,386
Schedule of Qualitative Information for Assets and Liabilities	The table below presents quantitative information for all assets measured at fair value on a recurring and non-recurring basis using significant unobservable inputs (Level 3) at June 30, 2024 and December 31, 2023: June 30, 2024 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 49,789 Cash flow valuation Constant prepayment rate 1.49% - 11.45% 6.07 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 13,772 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.67 % Foreclosed real estate $ 6,526 Fair value of property Appraised value less disposition costs 10.00% - 33.00% 10.95 % Other repossessed assets $ 5,713 Fair value of property Estimated net realizable value less disposition costs 36.00% - 71.00% 55.48 % Mortgage loans held for sale $ 8,375 Market prices Pricing and execution whole loan 92.89% - 101.33% 98.25 % Other loans held for sale $ 12,361 Bids or sales contract prices Estimated market value 100.00% - 104.47% 100.48 % December 31, 2023 Fair Value Valuation Technique Unobservable Input Range Weighted Average (In thousands) Servicing assets $ 49,520 Cash flow valuation Constant prepayment rate 1.35% - 17.34% 6.12 % Discount rate 10.00% - 15.50% 11.45 % Collateral dependent loans $ 8,027 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 17.00 % Foreclosed real estate $ 10,780 Fair value of property Appraised value less disposition costs 10.20% - 33.20% 12.67 % Other repossessed assets $ 4,032 Fair value of property Estimated net realizable value less disposition costs 31.00% - 77.00% 57.72 % Other loans held for sale $ 28,345 Bids or sales contract prices Estimated market value 52.00% - 103.20% 84.80%
Schedule of Estimated Fair Value and Carrying Value	The estimated fair value and carrying value of OFG’s financial instruments at June 30, 2024 and December 31, 2023 was as follows: June 30, 2024 December 31, 2023 Fair Carrying Fair Carrying (In thousands) Financial Assets: Level 1 Cash and cash equivalents $ 740,429 $ 740,429 $ 748,173 $ 748,173 Investment securities available-for-sale $ 200,658 $ 200,658 $ 296,799 $ 296,799 Level 2 Financial Assets: Trading securities $ 16 $ 16 $ 13 $ 13 Investment securities available-for-sale $ 1,895,648 $ 1,895,648 $ 1,802,465 $ 1,802,465 Investment securities held-to-maturity $ 244,365 $ 303,621 $ 455,709 $ 514,024 Federal Home Loan Bank (FHLB) stock $ 15,280 $ 15,280 $ 14,488 $ 14,488 Equity securities $ 25,794 $ 25,794 $ 23,981 $ 23,981 Level 3 Financial Assets: Investment securities held-to-maturity $ 35,072 $ 35,000 $ 35,055 $ 35,000 Total loans (including loans held-for-sale) $ 7,410,349 $ 7,503,142 $ 7,282,214 $ 7,401,618 Accrued interest receivable $ 72,969 $ 72,969 $ 71,400 $ 71,400 Servicing assets $ 49,789 $ 49,789 $ 49,520 $ 49,520 Accounts receivable and other assets $ 56,760 $ 56,760 $ 47,859 $ 47,589 Financial Liabilities: Deposits $ 9,622,547 $ 9,605,250 $ 9,767,068 $ 9,762,169 Advances from FHLB $ 198,937 $ 200,741 $ 199,184 $ 200,768 Other borrowings $ — $ — $ 2 $ 2 Accrued expenses and other liabilities $ 140,410 $ 140,410 $ 115,985 $ 115,985

BANKING AND FINANCIAL SERVICE_2

BANKING AND FINANCIAL SERVICE REVENUES (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023: Quarter Ended June 30, Six-Month Period Ended June 30, 2024 2023 2024 2023 (In thousands) (In thousands) Banking service revenues: Electronic banking fees $ 14,718 $ 13,603 $ 28,408 $ 26,969 Checking accounts fees 1,894 2,184 4,061 4,404 Savings accounts fees 307 327 615 660 Credit life commissions 73 119 77 224 Branch service commissions 275 324 621 746 Servicing and other loan fees 1,325 702 1,893 1,584 International fees 184 179 356 362 Miscellaneous income 5 2 9 4 Total banking service revenues 18,781 17,440 36,040 34,953 Wealth management revenue: Insurance income 4,214 4,169 7,988 7,539 Broker fees 2,009 1,797 4,100 3,580 Trust fees 2,217 2,228 4,459 4,152 Other fees — — — 43 Total wealth management revenue 8,440 8,194 16,547 15,314 Mortgage banking activities: Net servicing fees 4,101 4,650 8,052 7,493 Net gains on sale of mortgage loans and valuation 719 790 1,372 1,559 Net gain (loss) on repurchased loans and other 44 (215) 133 71 Total mortgage banking activities 4,864 5,225 9,557 9,123 Total banking and financial service revenues $ 32,085 $ 30,859 $ 62,144 $ 59,390

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023: Quarter Ended June 30, 2024 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 155,681 $ 4 $ 32,929 $ 188,614 $ (956) $ 187,658 Interest expense (37,654) — (3,635) (41,289) 956 (40,333) Net interest income 118,027 4 29,294 147,325 — 147,325 Provision for (recapture of) credit losses 15,589 — (8) 15,581 — 15,581 Non-interest income 24,723 7,654 99 32,476 — 32,476 Non-interest expenses (87,506) (4,623) (831) (92,960) — (92,960) Intersegment revenue 415 — — 415 (415) — Intersegment expenses — (243) (172) (415) 415 — Income before income taxes 40,070 2,792 28,398 71,260 — $ 71,260 Income tax expense 20,096 (5) 38 20,129 — 20,129 Net income $ 19,974 $ 2,797 $ 28,360 $ 51,131 $ — $ 51,131 Total assets $ 9,360,801 $ 36,217 $ 3,055,720 $ 12,452,738 $ (1,193,653) $ 11,259,085 Six-Month Period Ended June 30, 2024 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 306,676 $ 13 $ 66,426 $ 373,115 $ (2,031) $ 371,084 Interest expense (73,503) — (8,185) (81,688) 2,031 (79,657) Net interest income 233,173 13 58,241 291,427 — 291,427 Provision for (recapture of) credit losses 30,814 — (112) 30,702 — 30,702 Non-interest income, net 47,788 15,029 7 62,824 — 62,824 Non-interest expenses (173,496) (9,145) (1,731) (184,372) — (184,372) Intersegment revenue 839 — — 839 (839) — Intersegment expenses — (510) (329) (839) 839 — Income before income taxes $ 77,490 $ 5,387 $ 56,300 $ 139,177 $ — $ 139,177 Income tax expense 38,262 8 84 38,354 — 38,354 Net income $ 39,228 $ 5,379 $ 56,216 $ 100,823 $ — $ 100,823 Total assets $ 9,360,801 $ 36,217 $ 3,055,720 $ 12,452,738 $ (1,193,653) $ 11,259,085 Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, an international banking entity organized and licensed under Puerto Rico law, which operates as a unit within the Bank. The time deposit with a balance of $302.4 million and $364.2 million at June 30, 2024 and 2023, respectively, to fund Oriental Overseas operations is included in the Treasury Segment with its corresponding interest expense, and the related interest income is included in the Banking Segment, and are eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The decrease in interest income and interest expense from the prior year period was mainly as a result of lower interest rate and average balance. Quarter Ended June 30, 2023 Banking Wealth Treasury Total Major Eliminations Consolidated (In thousands) Interest income $ 139,999 $ 6 $ 22,841 $ 162,846 $ (4,858) $ 157,988 Interest expense (15,824) — (7,378) (23,202) 4,858 (18,344) Net interest income 124,175 6 15,463 139,644 — 139,644 Provision for credit losses 15,052 — (8) 15,044 — 15,044 Non-interest income 23,354 7,868 (1,149) 30,073 — 30,073 Non-interest expenses (83,876) (4,138) (874) (88,888) — (88,888) Intersegment revenue 575 — — 575 (575) — Intersegment expenses — (380) (195) (575) 575 — Income before income taxes 49,176 3,356 13,253 65,785 — 65,785 Income tax expense 21,577 20 15 21,612 — 21,612 Net income $ 27,599 $ 3,336 $ 13,238 $ 44,173 $ — $ 44,173 Total assets $ 8,720,156 $ 33,946 $ 2,338,820 $ 11,092,922 $ (1,061,375) $ 10,031,547 Six-Month Period Ended June 30, 2023 Banking Wealth Treasury Total Eliminations Consolidated (In thousands) Interest income $ 272,424 $ 11 $ 43,967 $ 316,402 $ (9,429) $ 306,973 Interest expense $ (28,205) $ — $ (12,656) $ (40,861) $ 9,429 $ (31,432) Net interest income $ 244,219 $ 11 $ 31,311 $ 275,541 $ — $ 275,541 Provision for credit losses $ 24,457 $ — $ 32 $ 24,489 $ — $ 24,489 Non-interest income, net $ 44,979 $ 15,144 $ (1,149) $ 58,974 $ — $ 58,974 Non-interest expenses $ (169,241) $ (8,093) $ (1,774) $ (179,108) $ — $ (179,108) Intersegment revenue $ 1,122 $ — $ — $ 1,122 $ (1,122) $ — Intersegment expenses $ — $ (758) $ (364) $ (1,122) $ 1,122 $ — Income before income taxes $ 96,622 $ 6,304 $ 27,992 $ 130,918 $ — $ 130,918 Income tax expense $ 40,469 $ 20 $ 27 $ 40,516 $ — $ 40,516 Net income $ 56,153 $ 6,284 $ 27,965 $ 90,402 $ — $ 90,402 Total assets $ 8,720,156 $ 33,946 $ 2,338,820 $ 11,092,922 $ (1,061,375) $ 10,031,547

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Restricted Cash and Investments [Abstract]
Reserve required by local government	$ 474.2	$ 464.5

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Money market investments	$ 5,083	$ 3,427	$ 4,623
Securitized GNMA pools retained, amortized cost	$ 38,100	$ 41,100
Securitized GNMA pool retained, yield	5.09%	5.16%
Retained FNMA pools	$ 0	$ 12,600
FNMA pools retained, yield		5.31%
OIB
Debt Securities, Available-for-sale [Line Items]
Restricted cash	525		325
Oriental Overseas
Debt Securities, Available-for-sale [Line Items]
Restricted cash	325		325
Asset Pledged as Collateral
Debt Securities, Available-for-sale [Line Items]
Pledged assets	1,648,000		1,624,000
Asset Pledged as Collateral | Public Funds
Debt Securities, Available-for-sale [Line Items]
Pledged assets	$ 1,602,000		$ 1,575,000

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - AFS) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Amortized Cost	$ 2,198,116	$ 2,177,761
Gross Unrealized Gains	10,287	13,476
Gross Unrealized Losses	112,097	91,973
Fair Value	$ 2,096,306	$ 2,099,264
Weighted Average Yield	4.17%	4.07%
Mortgage-backed securities
Schedule of Investments [Line Items]
Amortized Cost	$ 1,996,877	$ 1,880,395
Gross Unrealized Gains	10,285	13,424
Gross Unrealized Losses	112,095	91,970
Fair Value	$ 1,895,067	$ 1,801,849
Weighted Average Yield	4.04%	3.86%
Mortgage-backed securities | FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 1,557,846	$ 1,464,134
Gross Unrealized Gains	5,261	8,989
Gross Unrealized Losses	71,946	57,178
Fair Value	$ 1,491,161	$ 1,415,945
Weighted Average Yield	4.21%	4.03%
Mortgage-backed securities | GNMA certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 431,345	$ 406,275
Gross Unrealized Gains	5,024	4,435
Gross Unrealized Losses	39,864	34,416
Fair Value	$ 396,505	$ 376,294
Weighted Average Yield	3.47%	3.30%
Mortgage-backed securities | CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 7,686	$ 9,986
Gross Unrealized Gains	0	0
Gross Unrealized Losses	285	376
Fair Value	$ 7,401	$ 9,610
Weighted Average Yield	2.11%	2.06%
Mortgage-backed securities | Due less than 1 year | GNMA certificates
Schedule of Investments [Line Items]
Amortized Cost		$ 5
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		$ 5
Weighted Average Yield		1.31%
Mortgage-backed securities | Due from 1 to 5 years | FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 8,933	$ 6,972
Gross Unrealized Gains	0	0
Gross Unrealized Losses	421	311
Fair Value	$ 8,512	$ 6,661
Weighted Average Yield	1.98%	1.76%
Mortgage-backed securities | Due from 1 to 5 years | GNMA certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 7,965	$ 8,851
Gross Unrealized Gains	0	0
Gross Unrealized Losses	319	351
Fair Value	$ 7,646	$ 8,500
Weighted Average Yield	1.72%	1.71%
Mortgage-backed securities | Due from 1 to 5 years | CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 6,896	$ 9,071
Gross Unrealized Gains	0	0
Gross Unrealized Losses	274	364
Fair Value	$ 6,622	$ 8,707
Weighted Average Yield	1.78%	1.78%
Mortgage-backed securities | Due from 5 to 10 years | FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 36,742	$ 45,835
Gross Unrealized Gains	0	0
Gross Unrealized Losses	2,517	2,767
Fair Value	$ 34,225	$ 43,068
Weighted Average Yield	1.97%	2%
Mortgage-backed securities | Due from 5 to 10 years | GNMA certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 13,552	$ 17,113
Gross Unrealized Gains	7	16
Gross Unrealized Losses	883	955
Fair Value	$ 12,676	$ 16,174
Weighted Average Yield	2.23%	2.19%
Mortgage-backed securities | Due from 5 to 10 years | CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost		$ 54
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		$ 54
Weighted Average Yield		2.14%
Mortgage-backed securities | Due after 10 years | FNMA and FHLMC certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 1,512,171	$ 1,411,327
Gross Unrealized Gains	5,261	8,989
Gross Unrealized Losses	69,008	54,100
Fair Value	$ 1,448,424	$ 1,366,216
Weighted Average Yield	4.28%	4.11%
Mortgage-backed securities | Due after 10 years | GNMA certificates
Schedule of Investments [Line Items]
Amortized Cost	$ 409,828	$ 380,306
Gross Unrealized Gains	5,017	4,419
Gross Unrealized Losses	38,662	33,110
Fair Value	$ 376,183	$ 351,615
Weighted Average Yield	3.54%	3.38%
Mortgage-backed securities | Due after 10 years | CMOs issued by US government-sponsored agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 790	$ 861
Gross Unrealized Gains	0	0
Gross Unrealized Losses	11	12
Fair Value	$ 779	$ 849
Weighted Average Yield	5.06%	5.07%
Investment securities
Schedule of Investments [Line Items]
Amortized Cost	$ 201,239	$ 297,366
Gross Unrealized Gains	2	52
Gross Unrealized Losses	2	3
Fair Value	$ 201,239	$ 297,415
Weighted Average Yield	5.41%	5.39%
Investment securities | Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 583	$ 619
Gross Unrealized Gains	0	0
Gross Unrealized Losses	2	3
Fair Value	$ 581	$ 616
Weighted Average Yield	3.21%	3.20%
Investment securities | Due less than 1 year | US Treasury securities
Schedule of Investments [Line Items]
Amortized Cost	$ 200,656	$ 296,747
Gross Unrealized Gains	2	52
Gross Unrealized Losses	0	0
Fair Value	$ 200,658	$ 296,799
Weighted Average Yield	5.41%	5.40%
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	3.25%	3.25%
Investment securities | Due from 1 to 5 years | Other debt securities
Schedule of Investments [Line Items]
Amortized Cost	$ 83	$ 119
Gross Unrealized Gains	0	0
Gross Unrealized Losses	2	3
Fair Value	$ 81	$ 116
Weighted Average Yield	2.97%	2.97%

INVESTMENT SECURITIES (Invest_2

INVESTMENT SECURITIES (Investment Securities by Contractual Maturity - HTM) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 338,621	$ 549,024
Gross Unrealized Gains	72	55
Gross Unrealized Losses	59,256	58,315
Fair Value	$ 279,437	$ 490,764
Weighted Average Yield	2.20%	2.60%
Fair Value	$ 2,096,306	$ 2,099,264
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	1,895,067	1,801,849
Mortgage-backed securities | FNMA and FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	1,491,161	1,415,945
Investment securities
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	201,239	297,415
Investment securities | Other debt securities available for sale
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	581	616
Due from 1 to 5 years | Mortgage-backed securities | FNMA and FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	8,512	6,661
Due from 1 to 5 years | Investment securities | Other debt securities available for sale
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	35,000	35,000
Gross Unrealized Gains	72	55
Gross Unrealized Losses	0	0
Fair Value	$ 35,072	$ 35,055
Weighted Average Yield	6.33%	6.36%
Fair Value	$ 81	$ 116
Due less than 1 year | Investment securities | US Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		199,314
Gross Unrealized Gains		0
Gross Unrealized Losses		1,548
Fair Value		$ 197,766
Weighted Average Yield		3.33%
Fair Value	200,658	$ 296,799
Due less than 1 year | Investment securities | Other debt securities available for sale
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	500	500
Due after 10 years | Mortgage-backed securities | FNMA and FHLMC certificates
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	303,621	314,710
Gross Unrealized Gains	0	0
Gross Unrealized Losses	59,256	56,767
Fair Value	$ 244,365	$ 257,943
Weighted Average Yield	1.72%	1.72%
Fair Value	$ 1,448,424	$ 1,366,216

INVESTMENT SECURITIES (Sale of

INVESTMENT SECURITIES (Sale of securities available-for-sale) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Investments [Line Items]
Investment securities available-for-sale	$ 149,406	$ 202,133
US Treasury securities
Schedule of Investments [Line Items]
Investment securities available-for-sale	149,406	202,133
Book Value at Sale	149,413	203,282
Gross Gains	0	0
Gross Losses	$ 7	$ 1,149

INVESTMENT SECURITIES (Unrealiz

INVESTMENT SECURITIES (Unrealized Gains and Losses by Category) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Securities Available-for-Sale, Amortized Cost
12 months or more	$ 1,012,881	$ 1,017,108
Less than 12 months	235,275	114,099
Amortized Cost	1,248,156	1,131,207
Securities Available-for-Sale, Unrealized Loss
12 months or more	107,559	91,590
Less than 12 months	4,538	383
Total	112,097	91,973
Securities Available-for-Sale, Fair Value
12 months or more	905,322	925,518
Less than 12 months	230,737	113,716
Total	1,136,059	1,039,234
FNMA and FHLMC certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	737,230	731,334
Less than 12 months	197,672	106,235
Amortized Cost	934,902	837,569
Securities Available-for-Sale, Unrealized Loss
12 months or more	67,814	56,847
Less than 12 months	4,132	331
Total	71,946	57,178
Securities Available-for-Sale, Fair Value
12 months or more	669,416	674,487
Less than 12 months	193,540	105,904
Total	862,956	780,391
GNMA certificates
Securities Available-for-Sale, Amortized Cost
12 months or more	267,882	275,669
Less than 12 months	37,603	7,864
Amortized Cost	305,485	283,533
Securities Available-for-Sale, Unrealized Loss
12 months or more	39,458	34,364
Less than 12 months	406	52
Total	39,864	34,416
Securities Available-for-Sale, Fair Value
12 months or more	228,424	241,305
Less than 12 months	37,197	7,812
Total	265,621	249,117
CMOs issued by US Government-sponsored agencies
Securities Available-for-Sale, Amortized Cost
12 months or more	7,686	9,986
Amortized Cost	7,686	9,986
Securities Available-for-Sale, Unrealized Loss
12 months or more	285	376
Total	285	376
Securities Available-for-Sale, Fair Value
12 months or more	7,401	9,610
Total	7,401	9,610
Other debt securities
Securities Available-for-Sale, Amortized Cost
12 months or more	83	119
Amortized Cost	83	119
Securities Available-for-Sale, Unrealized Loss
12 months or more	2	3
Total	2	3
Securities Available-for-Sale, Fair Value
12 months or more	81	116
Total	$ 81	$ 116

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) portfolioSegment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments | portfolioSegment	4
Total loans held-for-sale	$ 20,736		$ 28,345
Total Loans	7,639,707		7,534,379
Accrued interest receivable on modified loans	1	$ 5
Recorded investment of residential mortgage loans collateralized and in process of foreclosure	16,700		24,100
Balance of revolving loans converted to term loans, amount	177,700		144,100
Accrued interest receivable	72,969		71,400
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	64,049		63,526
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	20,736		28,345
Total Loans	6,624,471		6,463,127
Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	246,065		243,037
Mortgage Loans - GNMA Buy-Back Option Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loans	19,000		19,400
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, sale	40,900	86
Recognized gain on sale	53	$ 0
Total loans held-for-sale	12,361		28,345
Total Loans	3,082,363		3,076,903
Commitment to lend additional funds	0		0
Commercial loans | Non-accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	0		6,400
Commercial loans | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	0		6,400
Commercial loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	12,361		28,345
Total Loans	2,953,779		2,941,456
Commercial loans | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	17,703		14,298
Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,420,337		2,321,675
Commercial loans | Puerto Rico | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,291,753		2,186,228
Commercial loans | Puerto Rico | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	16,661		14,298
Commercial loans | Puerto Rico | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	75,800		68,600
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	8,375		0
Total Loans	$ 1,485,127		1,562,609
Mortgage loans | Government Guaranteed Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Period past due	90 days
Nonaccrual status	12 months
Total	$ 229		4,200
Mortgage loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held-for-sale	8,375		0
Total Loans	600,031		629,247
Mortgage loans | Non-PCD | Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	42,451		47,260
Mortgage and consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance of revolving loans converted to term loans, amount	788		0
Mortgage and consumer loans | Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 1,243,603		$ 1,249,141

LOANS (Composition of Loan Port

LOANS (Composition of Loan Portfolio) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 7,639,707		$ 7,534,379
Allowance for credit losses	(157,301)		(161,106)	$ (159,923)
Total loans held for investment, net	7,482,406		7,373,273
Total loans held-for-sale	20,736		28,345
Total loans	7,503,142		7,401,618
Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	3,082,363		3,076,903
Allowance for credit losses	(34,598)			(50,012)
Total loans held-for-sale	12,361		28,345
Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,420,337		2,321,675
Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	662,026		755,228
Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,485,127		1,562,609
Allowance for credit losses	(12,528)			(16,967)
Total loans held-for-sale	8,375		0
Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	644,177		620,446
Allowance for credit losses	(29,440)			(25,674)
Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,428,040		2,274,421
Allowance for credit losses	(80,735)			(67,270)
Non-PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	6,624,471		6,463,127
Allowance for credit losses	(150,849)	$ (148,767)	(152,610)	(150,167)	$ (141,385)	$ (141,841)
Total loans held for investment, net	6,473,622		6,310,517
Total loans held-for-sale	20,736		28,345
Total loans	6,494,358		6,338,862
Non-PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,953,779		2,941,456
Allowance for credit losses	(33,809)	(37,371)	(44,041)	(48,604)	(37,774)	(39,158)
Total loans held-for-sale	12,361		28,345
Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,291,753		2,186,228
Non-PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	662,026		755,228
Non-PCD | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	600,031		629,247
Allowance for credit losses	(6,886)	(7,627)	(7,998)	(8,670)	(9,083)	(9,571)
Total loans held-for-sale	8,375		0
Non-PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	643,572		619,894
Allowance for credit losses	(29,432)	(27,453)	(27,086)	(25,666)	(24,664)	(23,264)
Non-PCD | Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	2,427,089		2,272,530
Allowance for credit losses	(80,722)	(76,316)	(73,485)	(67,227)	(69,864)	(69,848)
PCD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,015,236		1,071,252
Allowance for credit losses	(6,452)	(7,796)	(8,496)	(9,756)	(10,499)	(10,832)
Total loans held for investment, net	1,008,784		1,062,756
Total loans held-for-sale	0		0
Total loans	1,008,784		1,062,756
PCD | Commercial loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	128,584		135,447
Allowance for credit losses	(789)	(1,133)	(1,113)	(1,408)	(1,693)	(1,388)
Total loans held-for-sale	0		0
PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	128,584		135,447
PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	0		0
PCD | Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	885,096		933,362
Allowance for credit losses	(5,642)	(6,638)	(7,351)	(8,297)	(8,717)	(9,359)
Total loans held-for-sale	0		0
PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	605		552
Allowance for credit losses	(8)	(7)	(7)	(8)	(12)	(14)
PCD | Auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	951		1,891
Allowance for credit losses	(13)	$ (18)	(25)	$ (43)	$ (77)	$ (71)
Commercial secured by real estate | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,296,661		1,216,195
Commercial secured by real estate | Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,182,145		1,095,207
Commercial secured by real estate | PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	114,516		120,988
Other commercial and industrial | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,123,676		1,105,480
Other commercial and industrial | Non-PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	1,109,608		1,091,021
Other commercial and industrial | PCD | Commercial loans | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	14,068		14,459
Commercial US | Non-PCD | Commercial loans | UNITED STATES
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	662,026		755,228
Personal loans | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	594,524		568,622
Personal loans | Non-PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	594,271		568,358
Personal loans | PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	253		264
Credit lines | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	11,000		11,214
Credit lines | Non-PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	10,648		10,926
Credit lines | PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	352		288
Credit cards | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	38,382		40,314
Credit cards | Non-PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	38,382		40,314
Credit cards | PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	0		0
Overdraft | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	271		296
Overdraft | Non-PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	271		296
Overdraft | PCD | Consumer loans:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	$ 0		$ 0

LOANS (Aging of Recorded Invest

LOANS (Aging of Recorded Investment in Gross Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total Loans	$ 7,639,707	$ 7,534,379
Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,624,471	6,463,127
Loans 90+ Days Past Due and Still Accruing	1,682	2,478
30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	129,997	117,664
60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	56,470	60,739
90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	59,598	64,634
Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	246,065	243,037
Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	6,378,406	6,220,090
Commercial loans
Financing Receivable, Past Due [Line Items]
Total Loans	3,082,363	3,076,903
Commercial loans | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	2,420,337	2,321,675
Commercial loans | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	662,026	755,228
Commercial loans | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,953,779	2,941,456
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial loans | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	2,291,753	2,186,228
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial loans | Non-PCD | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	662,026	755,228
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial loans | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,279	2,951
Commercial loans | 30-59 Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	4,237	2,951
Commercial loans | 30-59 Days Past Due | Non-PCD | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	1,042	0
Commercial loans | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,502	702
Commercial loans | 60-89 Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	2,502	702
Commercial loans | 60-89 Days Past Due | Non-PCD | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Commercial loans | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	9,922	10,645
Commercial loans | 90+ Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	9,922	10,645
Commercial loans | 90+ Days Past Due | Non-PCD | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	0	0
Commercial loans | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	17,703	14,298
Commercial loans | Total Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	16,661	14,298
Commercial loans | Total Past Due | Non-PCD | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	1,042	0
Commercial loans | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,936,076	2,927,158
Commercial loans | Current | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	2,275,092	2,171,930
Commercial loans | Current | Non-PCD | UNITED STATES
Financing Receivable, Past Due [Line Items]
Total Loans	660,984	755,228
Mortgage loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,485,127	1,562,609
Mortgage loans | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	600,031	629,247
Loans 90+ Days Past Due and Still Accruing	1,682	2,478
Mortgage loans | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,442	6,107
Mortgage loans | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	7,325	9,596
Mortgage loans | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	29,684	31,557
Mortgage loans | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	42,451	47,260
Mortgage loans | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	557,580	581,987
Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	644,177	620,446
Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	643,572	619,894
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	7,985	6,996
Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	5,117	4,370
Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	3,303	3,376
Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	16,405	14,742
Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	627,167	605,152
Auto loans
Financing Receivable, Past Due [Line Items]
Total Loans	2,428,040	2,274,421
Auto loans | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,427,089	2,272,530
Loans 90+ Days Past Due and Still Accruing	0	0
Auto loans | 30-59 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	111,291	101,610
Auto loans | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	41,526	46,071
Auto loans | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	16,689	19,056
Auto loans | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	169,506	166,737
Auto loans | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,257,583	2,105,793
Commercial secured by real estate: | Commercial loans | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	1,296,661	1,216,195
Commercial secured by real estate: | Commercial loans | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	1,182,145	1,095,207
Loans 90+ Days Past Due and Still Accruing	0	0
Commercial secured by real estate: | Commercial loans | 30-59 Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	3,533	1,585
Commercial secured by real estate: | Commercial loans | 60-89 Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	2,189	411
Commercial secured by real estate: | Commercial loans | 90+ Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	6,032	5,671
Commercial secured by real estate: | Commercial loans | Total Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	11,754	7,667
Commercial secured by real estate: | Commercial loans | Current | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	1,170,391	1,087,540
Other commercial and industrial | Commercial loans | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	1,109,608	1,091,021
Loans 90+ Days Past Due and Still Accruing	0	0
Other commercial and industrial | Commercial loans | 30-59 Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	704	1,366
Other commercial and industrial | Commercial loans | 60-89 Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	313	291
Other commercial and industrial | Commercial loans | 90+ Days Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	3,890	4,974
Other commercial and industrial | Commercial loans | Total Past Due | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	4,907	6,631
Other commercial and industrial | Commercial loans | Current | Non-PCD | Puerto Rico
Financing Receivable, Past Due [Line Items]
Total Loans	1,104,701	1,084,390
Personal loans | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	594,524	568,622
Personal loans | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	594,271	568,358
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	6,904	6,115
Personal loans | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	4,766	4,041
Personal loans | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	2,569	2,755
Personal loans | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	14,239	12,911
Personal loans | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	580,032	555,447
Credit lines | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	11,000	11,214
Credit lines | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	10,648	10,926
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	476	137
Credit lines | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	70	35
Credit lines | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	12	35
Credit lines | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	558	207
Credit lines | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	10,090	10,719
Credit cards | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	38,382	40,314
Credit cards | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	38,382	40,314
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	542	657
Credit cards | Consumer | 60-89 Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	281	280
Credit cards | Consumer | 90+ Days Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	722	586
Credit cards | Consumer | Total Past Due | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	1,545	1,523
Credit cards | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	36,837	38,791
Overdraft | Consumer
Financing Receivable, Past Due [Line Items]
Total Loans	271	296
Overdraft | Consumer | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	271	296
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	63	87
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	63	101
Overdraft | Consumer | Current | Non-PCD
Financing Receivable, Past Due [Line Items]
Total Loans	$ 208	$ 195

LOANS (Investment in Loans on N

LOANS (Investment in Loans on Non-Accrual Status) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	$ 49,139	$ 63,399
Non-accrual with no Allowance for Credit Loss	23,056	16,000
Total	72,195	79,399
Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	48,326	60,089
Non-accrual with no Allowance for Credit Loss	18,877	12,636
Total	67,203	72,725
PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	813	3,310
Non-accrual with no Allowance for Credit Loss	4,179	3,364
Total	4,992	6,674
Commercial loans | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	18,949	27,337
Non-accrual with no Allowance for Credit Loss	15,528	8,759
Total	34,477	36,096
Commercial loans | Non-PCD | Puerto Rico
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	6,446	8,113
Non-accrual with no Allowance for Credit Loss	15,528	8,759
Total	21,974	16,872
Commercial loans | Non-PCD | UNITED STATES
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	12,503	19,224
Non-accrual with no Allowance for Credit Loss	0	0
Total	12,503	19,224
Commercial loans | PCD | Puerto Rico
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	569	3,060
Non-accrual with no Allowance for Credit Loss	4,179	3,364
Total	4,748	6,424
Mortgage loans | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	9,396	10,339
Non-accrual with no Allowance for Credit Loss	3,312	3,858
Total	12,708	14,197
Mortgage loans | PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	244	250
Non-accrual with no Allowance for Credit Loss	0	0
Total	244	250
Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	3,297	3,362
Non-accrual with no Allowance for Credit Loss	32	14
Total	3,329	3,376
Auto loans | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	16,684	19,051
Non-accrual with no Allowance for Credit Loss	5	5
Total	16,689	19,056
Commercial secured by real estate: | Commercial loans | Non-PCD | Puerto Rico
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	4,789	3,553
Non-accrual with no Allowance for Credit Loss	12,865	7,929
Total	17,654	11,482
Commercial secured by real estate: | Commercial loans | PCD | Puerto Rico
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	569	3,060
Non-accrual with no Allowance for Credit Loss	3,468	2,417
Total	4,037	5,477
Other commercial and industrial | Commercial loans | Non-PCD | Puerto Rico
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	1,657	4,560
Non-accrual with no Allowance for Credit Loss	2,663	830
Total	4,320	5,390
Other commercial and industrial | Commercial loans | PCD | Puerto Rico
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	0	0
Non-accrual with no Allowance for Credit Loss	711	947
Total	711	947
Personal loans | Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	2,564	2,741
Non-accrual with no Allowance for Credit Loss	32	14
Total	2,596	2,755
Credit lines | Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	12	35
Non-accrual with no Allowance for Credit Loss	0	0
Total	12	35
Credit cards | Consumer | Non-PCD
Financing Receivable, Nonaccrual [Line Items]
Non-accrual with Allowance for Credit Loss	721	586
Non-accrual with no Allowance for Credit Loss	0	0
Total	$ 721	$ 586

LOANS (Troubled-Amortized Cost

LOANS (Troubled-Amortized Cost Basis Debt Restructuring Loan Portfolio) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 32	$ 0	$ 58	$ 0
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	595	7,315	694	10,275
Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	0	0	$ 0	100
% of Total Class of Financing Receivable			0%
Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	92	475	$ 92	686
Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	0	4,691	$ 0	4,691
% of Total Class of Financing Receivable			0%
Commercial loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 5,488		$ 5,957
% of Total Class of Financing Receivable		0.20%		0.21%
Commercial loans | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 5,488		$ 5,957
% of Total Class of Financing Receivable		0.20%		0.21%
Commercial loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 4,260		$ 4,260
% of Total Class of Financing Receivable		0.64%		0.64%
Commercial loans | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate: | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate: | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 5,341		$ 5,810
% of Total Class of Financing Receivable		0.48%		0.52%
Commercial loans | Commercial secured by real estate: | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate: | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial secured by real estate: | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Term Extension | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 147		$ 147
% of Total Class of Financing Receivable		0.01%		0.01%
Commercial loans | Other commercial and industrial | Principal Forbearance / Forgiveness | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Combination of Term Extension and Interest Rate Reduction | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Other commercial and industrial | Combination of Term Extension and Principal Forgiveness / Forbearance | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial US | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial US | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial US | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial US | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0		$ 0
% of Total Class of Financing Receivable		0%		0%
Commercial loans | Commercial US | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 4,260		$ 4,260
% of Total Class of Financing Receivable		0.64%		0.64%
Mortgage loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 0
% of Total Class of Financing Receivable	0%	0%	0%	0%
Mortgage loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 595	$ 1,827	$ 687	$ 4,318
% of Total Class of Financing Receivable	0.04%	0.11%	0.05%	0.27%
Mortgage loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 0	$ 0	$ 100
% of Total Class of Financing Receivable	0%	0%	0%	0.01%
Mortgage loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 92	$ 417	$ 92	$ 602
% of Total Class of Financing Receivable	0.01%	0.03%	0.01%	0.02%
Mortgage loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0	$ 431	$ 0	$ 431
% of Total Class of Financing Receivable	0%	0.03%	0%	0.03%
Consumer | Personal loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 26	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Consumer | Personal loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 7	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Consumer | Personal loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Consumer | Personal loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 58	$ 0	$ 84
% of Total Class of Financing Receivable		0.01%	0%	0.02%
Consumer | Personal loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis		$ 0	$ 0	$ 0
% of Total Class of Financing Receivable		0%	0%	0%
Auto loans | Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 32		$ 32
% of Total Class of Financing Receivable	0%		0%
Auto loans | Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0		$ 0
% of Total Class of Financing Receivable	0%		0%
Auto loans | Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0
% of Total Class of Financing Receivable	0%
Auto loans | Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0		$ 0
% of Total Class of Financing Receivable	0%		0%
Auto loans | Combination of Term Extension and Principal Forgiveness / Forbearance
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amortized Cost Basis	$ 0
% of Total Class of Financing Receivable	0%

LOANS (Effect of Combined Modif

LOANS (Effect of Combined Modifications) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction
Weighted-Average Term Extension (In months)		56 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 2,973
Commercial loans | Commercial US
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		0%
Weighted-Average Term Extension (In months)		31 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 2,973
Commercial loans | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction				0%
Weighted-Average Term Extension (In months)				56 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)				$ 2,973
Commercial loans | Puerto Rico | Commercial secured by real estate:
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		0%		0%
Weighted-Average Term Extension (In months)		25 months		24 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 0		$ 0
Commercial loans | Puerto Rico | Commercial US
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction				0%
Weighted-Average Term Extension (In months)				31 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)				$ 2,973
Mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	0.38%	1.86%	0.38%	2.04%
Weighted-Average Term Extension (In months)	178 months	195 months	176 months	206 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 0	$ 20	$ 0	$ 24
Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction		1.25%	5%	2.50%
Weighted-Average Term Extension (In months)		110 months	18 months	81 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)		$ 0	$ 0	$ 0
Auto loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Interest Rate Reduction	3%		3%
Weighted-Average Term Extension (In months)	0 months		0 months
Weighted-Average Forgiveness/Forbearance of Principal Amount (In thousands)	$ 0		$ 0

LOANS (Loans Held For Investmen

LOANS (Loans Held For Investment That Subsequently Defaulted) (Details) - Mortgage loans - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 108	$ 415
Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	0	0
Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	108	415
Principal Forbearance / Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	0	0
Combination of Term Extension and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Recorded Investment	$ 0	$ 0

LOANS (Aging of Loans Held For

LOANS (Aging of Loans Held For Investment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 6,116	$ 15,752
30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	315	0
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	29	122
90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	108	415
Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	452	537
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	5,664	15,215
Commercial loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	3,473	10,217
Commercial loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	3,473	10,217
Commercial loans | Commercial PR | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	762
Commercial loans | Commercial PR | 30-59 Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans | Commercial PR | 60-89 Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans | Commercial PR | 90+ Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans | Commercial PR | Total Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Commercial loans | Commercial PR | Current | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	762
Commercial loans | Commercial secured by real estate: | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	136	5,810
Commercial loans | Commercial secured by real estate: | 30-59 Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial secured by real estate: | 60-89 Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial secured by real estate: | 90+ Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial secured by real estate: | Total Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial secured by real estate: | Current | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	136	5,810
Commercial loans | Other commercial and industrial | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	626	147
Commercial loans | Other commercial and industrial | 30-59 Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Other commercial and industrial | 60-89 Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Other commercial and industrial | 90+ Days Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Other commercial and industrial | Total Past Due | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Other commercial and industrial | Current | Puerto Rico
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	626	147
Commercial loans | Commercial US | UNITED STATES
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	2,711	4,260
Commercial loans | Commercial US | 30-59 Days Past Due | UNITED STATES
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial US | 60-89 Days Past Due | UNITED STATES
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial US | 90+ Days Past Due | UNITED STATES
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial US | Total Past Due | UNITED STATES
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Commercial loans | Commercial US | Current | UNITED STATES
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	2,711	4,260
Mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	2,435	5,451
Mortgage loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	315	0
Mortgage loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	29	122
Mortgage loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	108	415
Mortgage loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	452	537
Mortgage loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	1,983	4,914
Consumer | Personal loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	70	84
Consumer | Personal loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0	0
Consumer | Personal loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	70	$ 84
Auto loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	138
Auto loans | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Auto loans | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Auto loans | 90+ Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Auto loans | Total Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	0
Auto loans | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans	$ 138

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, 2024	Dec. 31, 2023
Commercial loans | Commercial secured by real estate: | Real Estate | Puerto Rico
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loans secured by real estate	$ 13,772	$ 8,027

LOANS (Credit Quality Indicator

LOANS (Credit Quality Indicators of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	$ 7,639,707		$ 7,639,707		$ 7,534,379
Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	6,624,471		6,624,471		6,463,127
Total	22,474	$ 18,374	50,053	$ 34,869
Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	3,082,363		3,082,363		3,076,903
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			114		33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			50		1,280
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			629		2,002
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			5,056		136
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		103
Prior, charge-offs			1,201		10,637
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			7,050		14,191
Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	228,759		228,759		662,278
Term loans amortized by cost basis, in one year prior to current fiscal year	643,818		643,818		393,072
Term loans amortized by cost basis, in two years prior to current fiscal year	358,773		358,773		387,643
Term loans amortized by cost basis, in three years prior to current fiscal year	368,627		368,627		195,785
Term loans amortized by cost basis, in four years prior to current fiscal year	174,424		174,424		135,588
Prior	291,551		291,551		184,376
Revolving Loans Amortized Cost Basis	887,827		887,827		982,714
Total Loans	2,953,779		2,953,779		2,941,456
Total	1,734	3,496	7,050	4,871
Mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,485,127		1,485,127		1,562,609
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		4
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			65		755
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			65		759
Mortgage loans | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	10,304		10,304		24,623
Term loans amortized by cost basis, in one year prior to current fiscal year	17,799		17,799		19,722
Term loans amortized by cost basis, in two years prior to current fiscal year	19,296		19,296		23,484
Term loans amortized by cost basis, in three years prior to current fiscal year	22,493		22,493		15,929
Term loans amortized by cost basis, in four years prior to current fiscal year	15,199		15,199		15,068
Prior	514,940		514,940		530,421
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	600,031		600,031		629,247
Total	1	191	65	392
Mortgage loans | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	10,304		10,304		24,623
Term loans amortized by cost basis, in one year prior to current fiscal year	17,149		17,149		19,722
Term loans amortized by cost basis, in two years prior to current fiscal year	19,296		19,296		23,303
Term loans amortized by cost basis, in three years prior to current fiscal year	22,321		22,321		15,821
Term loans amortized by cost basis, in four years prior to current fiscal year	15,094		15,094		14,589
Prior	498,542		498,542		511,182
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	582,706		582,706		609,240
Mortgage loans | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	650		650		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		181
Term loans amortized by cost basis, in three years prior to current fiscal year	172		172		108
Term loans amortized by cost basis, in four years prior to current fiscal year	105		105		479
Prior	16,398		16,398		19,239
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	17,325		17,325		20,007
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	644,177		644,177		620,446
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			56		1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			4,355		10,512
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			6,759		4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,036		830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			425		1,384
Prior, charge-offs			735		731
Revolving Loans Amortized Cost Basis, gross charge-offs			1,795		3,789
Total			16,161		23,655
Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	140,471		140,471		271,383
Term loans amortized by cost basis, in one year prior to current fiscal year	224,715		224,715		188,200
Term loans amortized by cost basis, in two years prior to current fiscal year	148,003		148,003		68,437
Term loans amortized by cost basis, in three years prior to current fiscal year	53,005		53,005		19,378
Term loans amortized by cost basis, in four years prior to current fiscal year	15,001		15,001		14,526
Prior	13,076		13,076		6,431
Revolving Loans Amortized Cost Basis	49,301		49,301		51,536
Total Loans	643,572		643,572		619,894
Total	8,180	5,518	16,161	10,958
Mortgage and consumer loans
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			56		1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			4,355		10,516
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			6,759		4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,036		830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			425		1,384
Prior, charge-offs			800		1,486
Revolving Loans Amortized Cost Basis, gross charge-offs			1,795		3,789
Total			16,226		24,414
Mortgage and consumer loans | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	150,775		150,775		296,009
Term loans amortized by cost basis, in one year prior to current fiscal year	242,514		242,514		207,922
Term loans amortized by cost basis, in two years prior to current fiscal year	167,299		167,299		91,921
Term loans amortized by cost basis, in three years prior to current fiscal year	75,498		75,498		35,307
Term loans amortized by cost basis, in four years prior to current fiscal year	30,200		30,200		29,594
Prior	528,016		528,016		536,852
Revolving Loans Amortized Cost Basis	49,301		49,301		51,536
Total Loans	1,243,603		1,243,603		1,249,141
Auto loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,428,040		2,428,040		2,274,421
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			137		4,090
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			9,196		18,142
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			9,310		10,894
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			3,889		4,008
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			1,784		3,380
Prior, charge-offs			2,461		3,250
Total			26,777		43,764
Auto loans | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	427,762		427,762		820,277
Term loans amortized by cost basis, in one year prior to current fiscal year	793,114		793,114		631,054
Term loans amortized by cost basis, in two years prior to current fiscal year	555,944		555,944		364,865
Term loans amortized by cost basis, in three years prior to current fiscal year	314,030		314,030		189,059
Term loans amortized by cost basis, in four years prior to current fiscal year	155,944		155,944		152,192
Prior	180,295		180,295		115,083
Total Loans	2,427,089		2,427,089		2,272,530
Total	12,559	$ 9,169	26,777	$ 18,648
Auto loans | 1-660 | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	72,253		72,253		170,639
Term loans amortized by cost basis, in one year prior to current fiscal year	193,855		193,855		190,743
Term loans amortized by cost basis, in two years prior to current fiscal year	178,546		178,546		118,821
Term loans amortized by cost basis, in three years prior to current fiscal year	106,187		106,187		57,087
Term loans amortized by cost basis, in four years prior to current fiscal year	48,537		48,537		41,124
Prior	56,594		56,594		38,570
Total Loans	655,972		655,972		616,984
Auto loans | 661-699 | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	86,699		86,699		169,430
Term loans amortized by cost basis, in one year prior to current fiscal year	148,429		148,429		110,260
Term loans amortized by cost basis, in two years prior to current fiscal year	88,989		88,989		58,166
Term loans amortized by cost basis, in three years prior to current fiscal year	45,869		45,869		25,886
Term loans amortized by cost basis, in four years prior to current fiscal year	20,872		20,872		18,253
Prior	22,658		22,658		16,137
Total Loans	413,516		413,516		398,132
Auto loans | 700+ | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	265,909		265,909		474,005
Term loans amortized by cost basis, in one year prior to current fiscal year	443,723		443,723		323,514
Term loans amortized by cost basis, in two years prior to current fiscal year	282,292		282,292		183,286
Term loans amortized by cost basis, in three years prior to current fiscal year	157,960		157,960		103,886
Term loans amortized by cost basis, in four years prior to current fiscal year	84,776		84,776		88,929
Prior	98,252		98,252		58,779
Total Loans	1,332,912		1,332,912		1,232,399
Auto loans | No FICO | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	2,901		2,901		6,203
Term loans amortized by cost basis, in one year prior to current fiscal year	7,107		7,107		6,537
Term loans amortized by cost basis, in two years prior to current fiscal year	6,117		6,117		4,592
Term loans amortized by cost basis, in three years prior to current fiscal year	4,014		4,014		2,200
Term loans amortized by cost basis, in four years prior to current fiscal year	1,759		1,759		3,886
Prior	2,791		2,791		1,597
Total Loans	24,689		24,689		25,015
Personal loans | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			56		1,748
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			4,355		10,512
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			6,759		4,661
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			2,036		830
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			425		1,384
Prior, charge-offs			735		731
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			14,366		19,866
Personal loans | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	140,471		140,471		271,386
Term loans amortized by cost basis, in one year prior to current fiscal year	224,715		224,715		188,200
Term loans amortized by cost basis, in two years prior to current fiscal year	148,003		148,003		68,437
Term loans amortized by cost basis, in three years prior to current fiscal year	53,005		53,005		19,378
Term loans amortized by cost basis, in four years prior to current fiscal year	15,001		15,001		14,526
Prior	13,076		13,076		6,431
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	594,271		594,271		568,358
Personal loans | Consumer | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	140,402		140,402		270,883
Term loans amortized by cost basis, in one year prior to current fiscal year	223,895		223,895		186,612
Term loans amortized by cost basis, in two years prior to current fiscal year	146,898		146,898		68,133
Term loans amortized by cost basis, in three years prior to current fiscal year	52,589		52,589		19,185
Term loans amortized by cost basis, in four years prior to current fiscal year	14,925		14,925		14,460
Prior	12,966		12,966		6,330
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	591,675		591,675		565,603
Personal loans | Consumer | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	69		69		503
Term loans amortized by cost basis, in one year prior to current fiscal year	820		820		1,588
Term loans amortized by cost basis, in two years prior to current fiscal year	1,105		1,105		304
Term loans amortized by cost basis, in three years prior to current fiscal year	416		416		193
Term loans amortized by cost basis, in four years prior to current fiscal year	76		76		66
Prior	110		110		101
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	2,596		2,596		2,755
Credit lines | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	11,000		11,000		11,214
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			0		0
Revolving Loans Amortized Cost Basis, gross charge-offs			88		419
Total			88		419
Credit lines | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	10,648		10,648		10,926
Total Loans	10,648		10,648		10,926
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		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	10,636		10,636		10,891
Total Loans	10,636		10,636		10,891
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		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	12		12		35
Total Loans	12		12		35
Credit cards | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	38,382		38,382		40,314
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			0		0
Revolving Loans Amortized Cost Basis, gross charge-offs			1,165		2,825
Total			1,165		2,825
Credit cards | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	38,382		38,382		40,314
Total Loans	38,382		38,382		40,314
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		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	37,661		37,661		39,728
Total Loans	37,661		37,661		39,728
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		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	721		721		586
Total Loans	721		721		586
Overdraft | Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	271		271		296
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			0		0
Revolving Loans Amortized Cost Basis, gross charge-offs			542		545
Total			542		545
Overdraft | Consumer | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	271		271		296
Total Loans	271		271		296
Overdraft | Consumer | Performing | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	271		271		296
Total Loans	271		271		296
Overdraft | Consumer | Nonperforming | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Puerto Rico | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,420,337		2,420,337		2,321,675
Puerto Rico | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	2,291,753		2,291,753		2,186,228
Puerto Rico | Commercial secured by real estate: | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	1,296,661		1,296,661		1,216,195
Puerto Rico | Commercial secured by real estate: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	110,497		110,497		224,598
Term loans amortized by cost basis, in one year prior to current fiscal year	222,738		222,738		218,436
Term loans amortized by cost basis, in two years prior to current fiscal year	231,615		231,615		203,824
Term loans amortized by cost basis, in three years prior to current fiscal year	201,218		201,218		126,655
Term loans amortized by cost basis, in four years prior to current fiscal year	115,382		115,382		98,962
Prior	237,683		237,683		155,470
Revolving Loans Amortized Cost Basis	63,012		63,012		67,262
Total Loans	1,182,145		1,182,145		1,095,207
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			0		265
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			0		0
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		94
Prior, charge-offs			7		820
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			7		1,179
Puerto Rico | Other commercial and industrial | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	74,157		74,157		284,626
Term loans amortized by cost basis, in one year prior to current fiscal year	282,931		282,931		102,948
Term loans amortized by cost basis, in two years prior to current fiscal year	74,967		74,967		114,586
Term loans amortized by cost basis, in three years prior to current fiscal year	100,571		100,571		37,924
Term loans amortized by cost basis, in four years prior to current fiscal year	29,575		29,575		8,424
Prior	18,955		18,955		15,122
Revolving Loans Amortized Cost Basis	528,452		528,452		527,391
Total Loans	1,109,608		1,109,608		1,091,021
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			114		0
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			50		124
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			237		1,095
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			3,307		89
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		9
Prior, charge-offs			11		1,180
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			3,719		2,497
Puerto Rico | Pass | Commercial secured by real estate: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	110,497		110,497		224,598
Term loans amortized by cost basis, in one year prior to current fiscal year	221,993		221,993		216,205
Term loans amortized by cost basis, in two years prior to current fiscal year	223,863		223,863		195,884
Term loans amortized by cost basis, in three years prior to current fiscal year	193,443		193,443		120,489
Term loans amortized by cost basis, in four years prior to current fiscal year	109,474		109,474		80,671
Prior	208,712		208,712		131,016
Revolving Loans Amortized Cost Basis	61,271		61,271		65,873
Total Loans	1,129,253		1,129,253		1,034,736
Puerto Rico | Pass | Other commercial and industrial | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	74,157		74,157		284,615
Term loans amortized by cost basis, in one year prior to current fiscal year	282,784		282,784		99,522
Term loans amortized by cost basis, in two years prior to current fiscal year	71,959		71,959		113,760
Term loans amortized by cost basis, in three years prior to current fiscal year	54,624		54,624		37,665
Term loans amortized by cost basis, in four years prior to current fiscal year	29,347		29,347		7,438
Prior	17,785		17,785		14,836
Revolving Loans Amortized Cost Basis	524,959		524,959		527,008
Total Loans	1,055,615		1,055,615		1,084,844
Puerto Rico | Special Mention | Commercial secured by real estate: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		1,772
Term loans amortized by cost basis, in two years prior to current fiscal year	7,298		7,298		6,554
Term loans amortized by cost basis, in three years prior to current fiscal year	6,375		6,375		5,057
Term loans amortized by cost basis, in four years prior to current fiscal year	4,702		4,702		15,676
Prior	13,031		13,031		12,500
Revolving Loans Amortized Cost Basis	113		113		153
Total Loans	31,519		31,519		41,712
Puerto Rico | Special Mention | Other commercial and industrial | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		8
Term loans amortized by cost basis, in one year prior to current fiscal year	5		5		2,953
Term loans amortized by cost basis, in two years prior to current fiscal year	2,695		2,695		0
Term loans amortized by cost basis, in three years prior to current fiscal year	45,033		45,033		0
Term loans amortized by cost basis, in four years prior to current fiscal year	2		2		51
Prior	147		147		100
Revolving Loans Amortized Cost Basis	1,060		1,060		0
Total Loans	48,942		48,942		3,112
Puerto Rico | Substandard | Commercial secured by real estate: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	745		745		459
Term loans amortized by cost basis, in two years prior to current fiscal year	454		454		1,386
Term loans amortized by cost basis, in three years prior to current fiscal year	1,400		1,400		1,109
Term loans amortized by cost basis, in four years prior to current fiscal year	1,206		1,206		2,615
Prior	15,940		15,940		11,939
Revolving Loans Amortized Cost Basis	1,628		1,628		1,236
Total Loans	21,373		21,373		18,744
Puerto Rico | Substandard | Other commercial and industrial | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		3
Term loans amortized by cost basis, in one year prior to current fiscal year	142		142		473
Term loans amortized by cost basis, in two years prior to current fiscal year	313		313		826
Term loans amortized by cost basis, in three years prior to current fiscal year	914		914		259
Term loans amortized by cost basis, in four years prior to current fiscal year	226		226		935
Prior	1,023		1,023		186
Revolving Loans Amortized Cost Basis	2,433		2,433		383
Total Loans	5,051		5,051		3,065
Puerto Rico | Doubtful | Commercial secured by real estate: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		15
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		15
Puerto Rico | Doubtful | Other commercial and industrial | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Puerto Rico | Loss | Commercial secured by real estate: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
Puerto Rico | Loss | Other commercial and industrial | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	0		0		0
UNITED STATES | Commercial PR:
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	662,026		662,026		755,228
UNITED STATES | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Total Loans	662,026		662,026		755,228
UNITED STATES | Commercial US: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	44,105		44,105		153,054
Term loans amortized by cost basis, in one year prior to current fiscal year	138,149		138,149		71,688
Term loans amortized by cost basis, in two years prior to current fiscal year	52,191		52,191		69,233
Term loans amortized by cost basis, in three years prior to current fiscal year	66,838		66,838		31,206
Term loans amortized by cost basis, in four years prior to current fiscal year	29,467		29,467		28,202
Prior	34,913		34,913		13,784
Revolving Loans Amortized Cost Basis	296,363		296,363		388,061
Total Loans	662,026		662,026		755,228
Term loans amortized by cost basis, in current fiscal year, gross charge-offs			0		33
Term loans amortized by cost basis, in one year prior to current fiscal year, gross charge-offs			0		1,156
Term loans amortized by cost basis, in two years prior to current fiscal year, gross charge-offs			392		642
Term loans amortized by cost basis, in three years prior to current fiscal year, gross charge-offs			1,749		47
Term loans amortized by cost basis, in four years prior to current fiscal year, gross charge-offs			0		0
Prior, charge-offs			1,183		8,637
Revolving Loans Amortized Cost Basis, gross charge-offs			0		0
Total			3,324		10,515
UNITED STATES | Pass | Commercial US: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	35,163		35,163		142,222
Term loans amortized by cost basis, in one year prior to current fiscal year	131,419		131,419		63,885
Term loans amortized by cost basis, in two years prior to current fiscal year	49,463		49,463		69,233
Term loans amortized by cost basis, in three years prior to current fiscal year	59,225		59,225		31,206
Term loans amortized by cost basis, in four years prior to current fiscal year	29,467		29,467		28,202
Prior	29,215		29,215		8,085
Revolving Loans Amortized Cost Basis	285,887		285,887		358,757
Total Loans	619,839		619,839		701,590
UNITED STATES | Special Mention | Commercial US: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		7,803
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	9,841		9,841		20,913
Total Loans	9,841		9,841		28,716
UNITED STATES | Substandard | Commercial US: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	6,532		6,532		10,832
Term loans amortized by cost basis, in one year prior to current fiscal year	6,730		6,730		0
Term loans amortized by cost basis, in two years prior to current fiscal year	2,728		2,728		0
Term loans amortized by cost basis, in three years prior to current fiscal year	7,613		7,613		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	5,698		5,698		5,699
Revolving Loans Amortized Cost Basis	635		635		8,391
Total Loans	29,936		29,936		24,922
UNITED STATES | Doubtful | Commercial US: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	2,410		2,410		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	2,410		2,410		0
UNITED STATES | Loss | Commercial US: | Commercial PR: | Non-PCD
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans amortized by cost basis, in current fiscal year	0		0		0
Term loans amortized by cost basis, in one year prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in two years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in three years prior to current fiscal year	0		0		0
Term loans amortized by cost basis, in four years prior to current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans Amortized Cost Basis	0		0		0
Total Loans	$ 0		$ 0		$ 0

ALLOWANCE FOR CREDIT LOSSES (Na

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in allowance for credit losses			$ (3,800)
Provision for credit losses	$ 15,581	$ 15,044	30,702	$ 24,489
Financing receivable, excluding accrued interest, allowance for credit loss, writeoff (recovery)			(34,800)
Increase (decrease) in net charge-offs			(18,100)
Loss Rate Models
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			4,500
Economic Rate Models
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			4,900
Other commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Net charge off			3,500
Commercial loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			2,900
Increase (decrease) in net charge-offs			(1,200)
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			(6,200)
Auto loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase (decrease) in net charge-offs			(11,500)
Financing Receivable, Loan Growth Member
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			$ 26,400

ALLOWANCE FOR CREDIT LOSSES (Al

ALLOWANCE FOR CREDIT LOSSES (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period			$ 161,106
Balance at end of period	$ 157,301	$ 159,923	157,301	$ 159,923	$ 161,106
Commercial PR:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(7,050)		(14,191)
Balance at end of period	34,598	50,012	34,598	50,012
Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(65)		(759)
Balance at end of period	12,528	16,967	12,528	16,967
Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(16,161)		(23,655)
Balance at end of period	29,440	25,674	29,440	25,674
Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Charge-offs			(26,777)		(43,764)
Balance at end of period	80,735	67,270	80,735	67,270
Non-PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	148,767	141,385	152,610	141,841	141,841
(Recapture of) provision for credit losses	17,083	16,250	33,836	24,282
Charge-offs	(22,474)	(18,374)	(50,053)	(34,869)
Recoveries	7,473	10,906	14,456	18,913
Balance at end of period	150,849	150,167	150,849	150,167	152,610
Non-PCD | Commercial PR:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	37,371	37,774	44,041	39,158	39,158
(Recapture of) provision for credit losses	(1,984)	14,089	(3,390)	13,754
Charge-offs	(1,734)	(3,496)	(7,050)	(4,871)
Recoveries	156	237	208	563
Balance at end of period	33,809	48,604	33,809	48,604	44,041
Non-PCD | Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	7,627	9,083	7,998	9,571	9,571
(Recapture of) provision for credit losses	(1,280)	(556)	(1,854)	(1,059)
Charge-offs	(1)	(191)	(65)	(392)
Recoveries	540	334	807	550
Balance at end of period	6,886	8,670	6,886	8,670	7,998
Non-PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	27,453	24,664	27,086	23,264	23,264
(Recapture of) provision for credit losses	9,308	4,517	16,963	10,491
Charge-offs	(8,180)	(5,518)	(16,161)	(10,958)
Recoveries	851	2,003	1,544	2,869
Balance at end of period	29,432	25,666	29,432	25,666	27,086
Non-PCD | Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	76,316	69,864	73,485	69,848	69,848
(Recapture of) provision for credit losses	11,039	(1,800)	22,117	1,096
Charge-offs	(12,559)	(9,169)	(26,777)	(18,648)
Recoveries	5,926	8,332	11,897	14,931
Balance at end of period	80,722	67,227	80,722	67,227	73,485
PCD
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	7,796	10,499	8,496	10,832	10,832
(Recapture of) provision for credit losses	(1,332)	(1,606)	(2,816)	(307)
Charge-offs	(300)	(159)	(392)	(2,638)
Recoveries	288	1,022	1,164	1,869
Balance at end of period	6,452	9,756	6,452	9,756	8,496
PCD | Commercial PR:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	1,133	1,693	1,113	1,388	1,388
(Recapture of) provision for credit losses	(237)	(604)	(374)	1,316
Charge-offs	(265)	0	(265)	(2,104)
Recoveries	158	319	315	808
Balance at end of period	789	1,408	789	1,408	1,113
PCD | Mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	6,638	8,717	7,351	9,359	9,359
(Recapture of) provision for credit losses	(1,060)	(679)	(2,328)	(1,493)
Charge-offs	(29)	(1)	(112)	(76)
Recoveries	93	260	731	507
Balance at end of period	5,642	8,297	5,642	8,297	7,351
PCD | Consumer
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	7	12	7	14	14
(Recapture of) provision for credit losses	(6)	78	(29)	278
Charge-offs	0	(124)	0	(337)
Recoveries	7	42	30	53
Balance at end of period	8	8	8	8	7
PCD | Auto loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	18	77	25	71	71
(Recapture of) provision for credit losses	(29)	(401)	(85)	(408)
Charge-offs	(6)	(34)	(15)	(121)
Recoveries	30	401	88	501
Balance at end of period	$ 13	$ 43	$ 13	$ 43	$ 25

FORECLOSED REAL ESTATE (Foreclo

FORECLOSED REAL ESTATE (Foreclosed Real Estate Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Real Estate Owned Activity [Roll Forward]
Foreclosed real estate beginning balance	$ 10,850	$ 9,250	$ 10,780	$ 11,214
Additions	706	3,196	2,051	4,634
Sales	(5,104)	(3,072)	(6,930)	(6,653)
Decline in value	(131)	(272)	(301)	(400)
Other adjustments	205	1,537	926	1,844
Foreclosed real estate ending balance	$ 6,526	$ 10,639	$ 6,526	$ 10,639

SERVICING ASSETS (Narrative) (D

SERVICING ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Servicing Assets at Fair Value [Line Items]
Servicing assets	$ 49,789	$ 49,966	$ 49,789	$ 49,966	$ 49,553	$ 49,520	$ 49,345	$ 50,921
Servicing fees on mortgage loans	1,325	702	1,893	1,584
Conventional Mortgage Loan
Servicing Assets at Fair Value [Line Items]
Servicing fees on mortgage loans	$ 4,500	$ 4,800	$ 8,900	$ 9,800

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at beginning of period	$ 49,553	$ 49,345	$ 49,520	$ 50,921
Servicing from mortgage securitization or asset transfers	303	791	830	1,365
Changes due to payments on loans	(732)	(1,085)	(1,652)	(2,150)
Changes in fair value due to changes in valuation model inputs or assumptions	665	915	1,091	(170)
Fair value at end of period	$ 49,789	$ 49,966	$ 49,789	$ 49,966

SERVICING ASSETS (Key Economic

SERVICING ASSETS (Key Economic Assumptions) (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Minimum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	1.49%	3.49%
Discount rate	10%	10%
Maximum
Servicing Assets at Fair Value [Line Items]
Constant prepayment rate	11.45%	21.68%
Discount rate	15.50%	15.50%

SERVICING ASSETS (Sensitivity o

SERVICING ASSETS (Sensitivity of Current Fair Value of Servicing Assets) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Transfers and Servicing [Abstract]
Carrying value of mortgage servicing asset	$ 49,789	$ 49,520
Weighted average life (in years)	7 years 3 months 18 days	7 years 3 months 18 days
Constant prepayment rate - Decrease in fair value due to 10% adverse change	$ (924)	$ (928)
Constant prepayment rate - Decrease in fair value due to 20% adverse change	(1,812)	(1,821)
Discount rate - Decrease in fair value due to 10% adverse change	(2,021)	(1,999)
Discount rate - Decrease in fair value due to 20% adverse change	$ (3,898)	$ (3,856)

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule Of Goodwill) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill, Beginning Balance	$ 84,241
Goodwill, Ending Balance	84,241
Banking
Finite-Lived Intangible Assets [Line Items]
Goodwill, Beginning Balance	84,063
Goodwill, Ending Balance	84,063
Wealth Management
Finite-Lived Intangible Assets [Line Items]
Goodwill, Beginning Balance	178
Goodwill, Ending Balance	178
Treasury
Finite-Lived Intangible Assets [Line Items]
Goodwill, Beginning Balance	0
Goodwill, Ending Balance	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Increase (decrease) in carrying amount of goodwill	$ 0	$ 0	$ 0	$ 0
Accumulated impairment losses	0		0		$ 0
Impairment of goodwill			0		$ 0
Intangible asset impairment			0
Amortization of intangible assets	$ 1,500	$ 1,700	$ 2,956	$ 3,450

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Core Deposit, Customer Relationship and Other Intangibles) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 54,200	$ 54,200
Accumulated Amortization	36,462	33,506
Net Carrying Value	17,738	20,694
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,507	41,507
Accumulated Amortization	27,923	25,659
Net Carrying Value	13,584	15,848
Customer relationship intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,693	12,693
Accumulated Amortization	8,539	7,847
Net Carrying Value	$ 4,154	$ 4,846

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS (Estimated Amortization of Other Intangible Assets) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 5,913
2025	4,927
2026	3,942
2027	2,956
2028	1,971
Thereafter	$ 985

ACCRUED INTEREST RECEIVABLE A_3

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Schedule of Accrued Interest Receivable) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 72,969	$ 71,400
Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	64,049	63,526
Investments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest receivable	$ 8,920	$ 7,874

ACCRUED INTEREST RECEIVABLE A_4

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other assets [Line Items]
Prepaid expenses	$ 88,481	$ 63,040
Prepaid municipal, property, and income taxes	76,600	54,700
Other repossessed assets	5,713	4,032
COVID-19 and Hurricane Fiona Deferral Program Loans
Other assets [Line Items]
Accrued interest receivable	19,500	20,200
COVID-19 and Hurricane Fiona Deferral Program Loans | Accrued Income Receivable
Other assets [Line Items]
Allowance for credit losses	92	85
COVID-19 and Hurricane Fiona Deferral Program Loans | Current
Other assets [Line Items]
Accrued interest receivable	$ 18,700	$ 18,200

ACCRUED INTEREST RECEIVABLE A_5

ACCRUED INTEREST RECEIVABLE AND OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Interest Receivable and Other Assets [Abstract]
Prepaid expenses	$ 88,481	$ 63,040
Other repossessed assets	5,713	4,032
Accounts receivable and other assets	56,760	47,859
Other assets	$ 150,954	$ 114,931

DEPOSITS AND RELATED INTEREST_2

DEPOSITS AND RELATED INTEREST (Deposits by Components) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deposits and Related Interest [Abstract]
Non-interest-bearing demand deposits	$ 2,608,902	$ 2,537,431
Interest-bearing savings and demand deposits	5,410,804	5,601,099
Retail certificates of deposit	1,142,257	1,083,316
Institutional certificates of deposit	442,869	378,143
Total core deposits	9,604,832	9,599,989
Brokered deposits	418	162,180
Total deposits	$ 9,605,250	$ 9,762,169

DEPOSITS AND RELATED INTEREST_3

DEPOSITS AND RELATED INTEREST (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deposits and Related Interest [Line Items]
Uninsured deposits	$ 4,979,000	$ 4,885,000
Deposits percent	52%	50%
Weighted average interest rate of deposits	1.50%	0.88%
Time deposits in denominations in excess of $250,000	$ 867,300	$ 747,200
Deposits	9,605,250	9,762,169
Public funds collateral investments	1,679,000	1,645,000
Accrued interest on time deposits	1,800	3,000
Overdrafts in demand deposit accounts	650	564
Government | Puerto Rico
Deposits and Related Interest [Line Items]
Deposits	$ 1,577,000	$ 1,616,000

DEPOSITS AND RELATED INTEREST_4

DEPOSITS AND RELATED INTEREST (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Deposits and Related Interest [Abstract]
Demand and savings deposits	$ 26,682	$ 10,423	$ 52,748	$ 19,092
Certificates of deposit	11,130	5,493	21,856	9,321
Total	$ 37,812	$ 15,916	$ 74,604	$ 28,413

DEPOSITS AND RELATED INTEREST_5

DEPOSITS AND RELATED INTEREST (Maturities of Time Deposits) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Year-end amount, Within One Year
Three months or less	$ 312,747	$ 457,533
Over 3 months through 6 months	227,691	195,902
Over 6 months through 1 year	590,451	329,758
Within one year	1,130,889	983,193
Year-end amount, after one year:
Over 1 through 2 years	308,181	467,348
Over 2 through 3 years	66,580	94,450
Over 3 through 4 years	38,804	29,514
Over 4 through 5 years	38,808	45,575
Over 5 years	527	608
Certificates of deposit	1,583,789	1,620,688
Uninsured amount, within one year:
Three months or less	137,864	115,392
Over 3 months through 6 months	95,415	61,245
Over 6 months through 1 year	250,814	113,524
Within one year	484,093	290,161
Uninsured amount, after one year:
Over 1 through 2 years	93,103	201,478
Over 2 through 3 years	7,465	13,971
Over 3 through 4 years	1,699	1,379
Over 4 through 5 years	4,971	4,665
Over 5 years	0	0
Uninsured amount	$ 591,331	$ 511,654

BORROWINGS AND RELATED INTERE_3

BORROWINGS AND RELATED INTEREST (Advances from the Federal Home Loan Bank of New York) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Additional borrowing capacity	$ 451,600	$ 446,000
Weighted average period remaining maturity of FHLB advances	8 months	1 year 2 months 12 days
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Minimum amount of qualifying collateral	110%
Accrued interest payable	$ 741	$ 768
Advances from the Federal Home Loan Bank | Long-Term Fixed-Rate Advances from FHLB
Debt Instrument [Line Items]
Original debt instrument term of FHLB advances	2 years
Advances from the Federal Home Loan Bank | Asset Pledged as Collateral
Debt Instrument [Line Items]
Total loans	$ 1,000,000	$ 1,000,000

BORROWINGS AND RELATED INTERE_4

BORROWINGS AND RELATED INTEREST (Schedule of Federal Home Loan Bank Advances And Maturity) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 200,741	$ 200,768
Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	200,000	200,000
Federal Loan Home Bank Advances Short Term Period | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 200,000	0
Long-Term Fixed-Rate Advances from FHLB | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Weighted average interest rate of FHLB advances	4.52%
Long-Term Fixed-Rate Advances from FHLB | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 0	200,000
Weighted average interest rate of FHLB advances	4.52%
Due less than one year | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 200,000	0
Over one to three years | Advances from the Federal Home Loan Bank
Debt Instrument [Line Items]
Advances from the Federal Home Loan Bank of New York (the “FHLB”)	$ 0	$ 200,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Statutory tax rate (as a percent)			37.50%
Valuation allowance	$ 6,500		$ 6,500		$ 7,000
Deferred tax asset, net	4,100		4,100		4,900
Deferred tax liability, valuation allowance	610		610		569
Deferred tax liabilities, net	33,873		33,873		22,444
Decrease in valuation allowance			$ 528
Effective tax rate (as a percent)			27.60%	30.90%
Expected effective tax rate for 2024			29.20%
Unrecognized tax benefits	970		$ 970		$ 936
Income tax expense	$ 20,129	$ 21,612	$ 38,354	$ 40,516

REGULATORY CAPITAL REQUIREMEN_3

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
OFG Bancorp
Amount
Actual - Total capital to risk-weighted assets	$ 1,330,474	$ 1,278,537
Actual - Tier 1 capital to risk-weighted assets	1,223,031	1,174,205
Actual - Common equity tier 1 capital to risk-weighted assets	1,223,031	1,174,205
Actual - Tier 1 capital to average total assets	1,223,031	1,174,205
Minimum Capital Requirement - Total capital to risk-weighted assets	898,963	873,369
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	727,732	707,013
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	599,308	582,246
Minimum Capital Requirement - Tier 1 capital to average total assets	450,325	425,911
Minimum to be Well Capitalized - Total capital to risk-weighted assets	856,155	831,780
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	684,924	665,424
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	556,501	540,657
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 562,906	$ 532,389
Ratio
Actual - total capital to risk-weighted assets	0.1554	0.1537
Actual - Tier 1 capital to risk-weighted assets	0.1429	0.1412
Actual - Common equity tier 1 capital to risk-weighted assets	0.1429	0.1412
Actual - Tier 1 capital to average total assets	0.1086	0.1103
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	0.0700	0.0700
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	0.0650	0.0650
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500
Bank
Amount
Actual - Total capital to risk-weighted assets	$ 1,245,627	$ 1,179,164
Actual - Tier 1 capital to risk-weighted assets	1,138,874	1,075,487
Actual - Common equity tier 1 capital to risk-weighted assets	1,138,874	1,075,487
Actual - Tier 1 capital to average total assets	1,138,874	1,075,487
Minimum Capital Requirement - Total capital to risk-weighted assets	893,092	867,797
Minimum Capital Requirement - Tier 1 capital to risk-weighted assets	722,979	702,503
Minimum Capital Requirement - Common equity tier 1 capital to risk-weighted assets	595,395	578,532
Minimum Capital Requirement - Tier 1 capital to average total assets	445,681	421,660
Minimum to be Well Capitalized - Total capital to risk-weighted assets	850,564	826,474
Minimum to be Well Capitalized - Tier 1 capital to risk-weighted assets	680,451	661,179
Minimum to be Well Capitalized - Common equity tier 1 capital to risk-weighted assets	552,866	537,208
Minimum to be Well Capitalized - Tier 1 capital to average total assets	$ 557,101	$ 527,075
Ratio
Actual - total capital to risk-weighted assets	0.1464	0.1427
Actual - Tier 1 capital to risk-weighted assets	0.1339	0.1301
Actual - Common equity tier 1 capital to risk-weighted assets	0.1339	0.1301
Actual - Tier 1 capital to average total assets	0.1022	0.1020
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	0.0700	0.0700
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	0.0650	0.0650
Minimum to be Well Capitalized - Tier 1 capital to average total assets	0.0500	0.0500

STOCKHOLDERS_ EQUITY (Narrative

STOCKHOLDERS’ EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jan. 31, 2024	Dec. 31, 2023	Jan. 31, 2022
Equity, Class of Treasury Stock [Line Items]
Common stock	$ 59,885		$ 59,885			$ 59,885
Legal surplus	160,560		160,560			150,967
Transfer to legal surplus	$ 4,800	$ 4,200	$ 9,600	$ 8,700
Shares repurchased during period (in shares)	669,200	565,299	669,200	670,099
Common shares repurchased as part of the stock repurchase programs	$ 24,282	$ 13,573	$ 24,282	$ 16,467
Share repurchased, average price per share (in dollars per share)			$ 36.28
Shares purchased (in shares)			0	0
January 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount							$ 100,000
Stock repurchase program, remaining authorized repurchase amount	17,200		$ 17,200
Shares repurchased during period (in shares)				670,099
Common shares repurchased as part of the stock repurchase programs				$ 16,500
Share repurchased, average price per share (in dollars per share)				$ 24.57
January 2024 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 50,000
Stock repurchase program, remaining authorized repurchase amount	$ 25,700		$ 25,700
Stock repurchase program, remaining number of shares authorized to be repurchased (in shares)	686,741		686,741
Share price (in dollars per share)	$ 37.45		$ 37.45
Legal surplus
Equity, Class of Treasury Stock [Line Items]
Transfer from retained earnings	$ 4,828	$ 4,234	$ 9,593	$ 8,666
Common stock
Equity, Class of Treasury Stock [Line Items]
Accumulated common stock issuance costs charged against paid in capital	$ 13,600		$ 13,600			$ 13,600

STOCKHOLDERS_ EQUITY (Activity

STOCKHOLDERS’ EQUITY (Activity of Common Shares Held in Treasury) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Shares
Beginning of period (in shares)	12,668,663	12,273,832	12,820,078	12,303,859
Common shares used upon lapse of restricted stock units and options (in shares)	(14,161)	(30,084)	(165,576)	(164,911)
Common shares repurchased as part of the stock repurchase programs (in shares)	669,200	565,299	669,200	670,099
End of period (in shares)	13,323,702	12,809,047	13,323,702	12,809,047
Dollar Amount
Beginning of period	$ 226,896	$ 212,794	$ 228,350	$ 211,135
Common shares used upon lapse of restricted stock units and options	(227)	(137)	(1,681)	(1,372)
Common shares repurchased as part of the stock repurchase programs	24,282	13,573	24,282	16,467
End of period	$ 250,951	$ 226,230	$ 250,951	$ 226,230

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Accumulated Comprehensive Income, Net of Income Tax) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes	$ (86,494)	$ (67,013)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of income taxes	(86,494)	(67,013)
Net unrealized loss on securities available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss on securities available-for-sale	(101,810)	(78,497)
Income tax effect of unrealized loss on securities available-for-sale	15,316	11,484
Net unrealized loss on securities available-for-sale	$ (86,494)	$ (67,013)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS (Changes in Other Comprehensive Income by Components) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period			$ 1,193,480
Other comprehensive (loss) income before reclassifications		$ (12,505)		$ 1,971
Amounts reclassified out of accumulated other comprehensive (loss) income		1,281		1,874
Other comprehensive income (loss)		(11,224)		3,845
Balance at end of period	$ 1,227,702	1,099,751	1,227,702	1,099,751
Net unrealized loss on securities available-for-sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(81,731)	(78,340)	(67,013)	(93,409)
Balance at end of period	(86,494)	(89,564)	(86,494)	(89,564)
Net unrealized loss on securities available-for-sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(81,731)	(78,512)	(67,013)	(93,663)
Other comprehensive (loss) income before reclassifications	(4,765)	(9,980)	(19,474)	5,169
Amounts reclassified out of accumulated other comprehensive (loss) income	2	(1,147)	(7)	(1,145)
Other comprehensive income (loss)	(4,763)	(11,127)	(19,481)	4,024
Balance at end of period	$ (86,494)	(89,639)	$ (86,494)	(89,639)
Net unrealized gain on cash flow hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period		172		254
Other comprehensive (loss) income before reclassifications		(2,525)		(3,198)
Amounts reclassified out of accumulated other comprehensive (loss) income		2,428		3,019
Other comprehensive income (loss)		(97)		(179)
Balance at end of period		$ 75		$ 75

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE LOSS (Reclassifications Out of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	$ 20,129	$ 21,612	$ 38,354	$ 40,516
Net income	51,131	44,173	100,823	90,402
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	2	1,281	(7)	1,874
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized loss on securities available-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net loss on sale of securities	0	(1,149)	(7)	(1,149)
Income tax expense	2	2	0	4
Reclassification out of Accumulated Other Comprehensive Income | Interest Rate Contract | Net unrealized gain on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net interest expense	$ 0	$ 2,428	$ 0	$ 3,019

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Income available to common shareholders	$ 51,131	$ 44,173	$ 100,823	$ 90,402
Average common shares outstanding (in shares)	46,952	47,266	47,024	47,432
Average potential common shares-options (in shares)	179	224	220	284
Total weighted average common shares outstanding and equivalents (in shares)	47,131	47,490	47,244	47,716
Earnings per common share - basic (in dollars per share)	$ 1.09	$ 0.93	$ 2.14	$ 1.91
Earnings per common share - diluted (in dollars per share)	$ 1.08	$ 0.93	$ 2.13	$ 1.89

EARNINGS PER COMMON SHARE (Narr

EARNINGS PER COMMON SHARE (Narrative) (Details) - $ / shares	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Earnings Per Share [Abstract]
Weighted average stock options with an anti dilutive effect excluded from calculation of earnings per share (in shares)	0		147,878	0	128,681
Quarterly common stock cash dividend (in dollars per share)	$ 0.25	$ 0.25	$ 0.22	$ 0.50	$ 0.44	$ 0.22

GUARANTEES (Narrative) (Details

GUARANTEES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Guarantor Obligations [Line Items]
Acquired standby letters of credit and financial guarantees	$ 25,000		$ 25,000		$ 24,000
Repurchased loans not subject to credit recourse provision	915	$ 4,200	1,900	$ 6,400
Amount of serviced loans	5,600,000		5,600,000		5,600,000
Funds advanced to investors under servicing agreements	3,700		3,700		4,200
Nonrecourse
Guarantor Obligations [Line Items]
Gain (Loss) on early extinguishment of debt	21	372	77	121
Recourse
Guarantor Obligations [Line Items]
Loans sold with recourse	94,456		94,456		98,685
Liability for estimated credit losses to loans sold with credit recourse	59		59		102
Repurchased GNMA	106	545	240	610
Gain (Loss) on early extinguishment of debt	14	$ 141	43	$ 147
Loan serviced under representation warranties | Nonrecourse
Guarantor Obligations [Line Items]
Loans sold with recourse	$ 275		$ 275		$ 405

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross [Roll Forward]
Balance at beginning of period	$ 73	$ 141	$ 102	$ 147
Net recoveries (charge-offs/terminations)	(14)	9	(43)	3
Balance at end of period	$ 59	$ 150	$ 59	$ 150

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Summarized Credit-Related Financial Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Commitments to extend credit	$ 1,424,489	$ 1,255,695
Commercial letters of credit	1,384	119
Standby letters of credit and financial guarantees	25,028	23,970
Recourse
Other Commitments [Line Items]
Loans sold with recourse	$ 94,456	$ 98,685

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Allowance for credit losses for off-balance sheet	$ 833	$ 1,200
Other non-credit commitments	18,900	18,900
Legal Contingencies
Other Commitments [Line Items]
Contingency loss accrued liability	561	817
Potential Losses, Operational Errors, Theft and Uncollectible Receivables
Other Commitments [Line Items]
Contingency loss accrued liability	1,500	1,400
Technology Commitments
Other Commitments [Line Items]
Commitments for capital expenditures in technology	$ 7,200	$ 7,800

OPERATING LEASES (Operating Lea

OPERATING LEASES (Operating Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee Disclosure [Abstract]
Lease costs	$ 2,261	$ 2,608	$ 4,914	$ 5,208
Variable lease costs	370	347	781	687
Short-term lease costs	91	148	141	305
Lease income	(29)	(17)	(51)	(54)
Total lease costs	$ 2,693	$ 3,086	$ 5,785	$ 6,146

OPERATING LEASES (Operating L_2

OPERATING LEASES (Operating Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Right-of-use assets	$ 20,298	$ 21,725
Lease Liabilities	$ 22,605	$ 24,029

OPERATING LEASES (Operating L_3

OPERATING LEASES (Operating Lease Terms) (Details)	Jun. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Weighted-average remaining lease term (in years)	5 years	5 years 1 month 6 days
Weighted-average discount rate (percentage)	7.50%	7%

OPERATING LEASES (Future Minimu

OPERATING LEASES (Future Minimum Payments for Operating Leases and Present Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
2024	$ 4,093
2025	6,676
2026	4,620
2027	3,793
2028	2,980
Thereafter	5,184
Total lease payments	27,346
Less imputed interest	4,741
Present value of lease liabilities	$ 22,605	$ 24,029

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Narrative) (Details) $ in Thousands	Jun. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 0	$ 0
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities at fair value	$ 0	$ 0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of security categorized as other debt | security	1

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities on Recurring and Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 16		$ 13
Money market investments	5,083		4,623	$ 3,427
Servicing assets	49,789	$ 49,553	49,520	49,966	$ 49,345	$ 50,921
Foreclosed real estate	6,526	$ 10,850	10,780	$ 10,639	$ 9,250	$ 11,214
Other repossessed assets	5,713		4,032
Recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	2,096,306		2,099,264
Trading securities	16		13
Money market investments	5,083		4,623
Servicing assets	49,789		49,520
Total	2,151,194		2,153,420
Recurring fair value measurements | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	200,658		296,799
Trading securities	0		0
Money market investments	5,083		4,623
Servicing assets	0		0
Total	205,741		301,422
Recurring fair value measurements | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,895,648		1,802,465
Trading securities	16		13
Money market investments	0		0
Servicing assets	0		0
Total	1,895,664		1,802,478
Recurring fair value measurements | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	0		0
Trading securities	0		0
Money market investments	0		0
Servicing assets	49,789		49,520
Total	49,789		49,520
Non-recurring fair value measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral dependent loans	13,772		8,027
Foreclosed real estate	6,526		10,780
Other repossessed assets	5,713		4,032
Mortgage loans held for sale	8,375
Other loans held for sale	12,361		28,345
Total	46,747		51,184
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
Mortgage loans held for sale	0
Other loans held for sale	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
Mortgage loans held for sale	0
Other loans held for sale	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	13,772		8,027
Foreclosed real estate	6,526		10,780
Other repossessed assets	5,713		4,032
Mortgage loans held for sale	8,375
Other loans held for sale	12,361		28,345
Total	$ 46,747		$ 51,184

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Reconciliation of Assets and Liabilities Using Significant Unobservable Inputs (Level 3)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag			Gains included in earnings	Gains included in earnings
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain (Loss) Statement Of Other Comprehensive Income Extensible List Not Disclosed Flag			Gains included in other comprehensive income	Gains included in other comprehensive income
Recurring fair value measurements | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		$ 49,758		$ 51,327
New instruments acquired		791		1,365
Principal repayments and amortization		(1,085)		(2,150)
Gains (losses) included in earnings		915		(170)
Gains included in other comprehensive income		7		14
Balance at end of period		50,386		50,386
Recurring fair value measurements | Level 3 | Other debt securities available for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		413		406
New instruments acquired		0		0
Principal repayments and amortization		0		0
Gains (losses) included in earnings		0		0
Gains included in other comprehensive income		7		14
Balance at end of period		420		420
Recurring fair value measurements | Level 3 | Servicing Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 49,553	49,345	$ 49,520	50,921
New instruments acquired	303	791	830	1,365
Principal repayments and amortization	(732)	(1,085)	(1,652)	(2,150)
Gains (losses) included in earnings	665	915	1,091	(170)
Gains included in other comprehensive income	0	0	0	0
Balance at end of period	$ 49,789	$ 49,966	$ 49,789	$ 49,966

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Qualitative Information for Assets and Liabilities) (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Fair Value
Servicing assets	$ 49,789	$ 49,966	$ 49,520	$ 49,553	$ 49,345	$ 50,921
Foreclosed real estate	6,526	$ 10,639	10,780	$ 10,850	$ 9,250	$ 11,214
Other repossessed assets	$ 5,713		4,032
Minimum
Unobservable Input
Constant prepayment rate	1.49%	3.49%
Discount rate	10%	10%
Maximum
Unobservable Input
Constant prepayment rate	11.45%	21.68%
Discount rate	15.50%	15.50%
Level 3 | Cash flow valuation | Servicing Assets
Fair Value
Servicing assets	$ 49,789		$ 49,520
Level 3 | Cash flow valuation | Minimum | Servicing Assets
Unobservable Input
Constant prepayment rate	1.49%		1.35%
Discount rate	10%		10%
Level 3 | Cash flow valuation | Maximum | Servicing Assets
Unobservable Input
Constant prepayment rate	11.45%		17.34%
Discount rate	15.50%		15.50%
Level 3 | Cash flow valuation | Weighted Average | Servicing Assets
Unobservable Input
Constant prepayment rate	6.07%		6.12%
Discount rate	11.45%		11.45%
Level 3 | Fair value of property or collateral | Collateral dependent loans
Fair Value
Collateral dependent loans	$ 13,772		$ 8,027
Level 3 | Fair value of property or collateral | Foreclosed real estate
Fair Value
Foreclosed real estate	6,526		10,780
Level 3 | Fair value of property or collateral | Other repossessed assets
Fair Value
Other repossessed assets	5,713		$ 4,032
Level 3 | Fair value of property or collateral | Mortgage loans held for sale
Fair Value
Mortgage loans held for sale	$ 8,375
Level 3 | Fair value of property or collateral | Minimum | Collateral dependent loans
Unobservable Input
Appraised value less disposition costs	10.20%		10.20%
Level 3 | Fair value of property or collateral | Minimum | Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	10%		10.20%
Level 3 | Fair value of property or collateral | Minimum | Other repossessed assets
Unobservable Input
Estimated net realizable value	36%		31%
Level 3 | Fair value of property or collateral | Minimum | Mortgage loans held for sale
Unobservable Input
Estimated net realizable value	92.89%
Level 3 | Fair value of property or collateral | Maximum | Collateral dependent loans
Unobservable Input
Appraised value less disposition costs	33.20%		33.20%
Level 3 | Fair value of property or collateral | Maximum | Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	33%		33.20%
Level 3 | Fair value of property or collateral | Maximum | Other repossessed assets
Unobservable Input
Estimated net realizable value	71%		77%
Level 3 | Fair value of property or collateral | Maximum | Mortgage loans held for sale
Unobservable Input
Estimated net realizable value	101.33%
Level 3 | Fair value of property or collateral | Weighted Average | Collateral dependent loans
Unobservable Input
Appraised value less disposition costs	17.67%		17%
Level 3 | Fair value of property or collateral | Weighted Average | Foreclosed real estate
Unobservable Input
Appraised value less disposition costs	10.95%		12.67%
Level 3 | Fair value of property or collateral | Weighted Average | Other repossessed assets
Unobservable Input
Estimated net realizable value	55.48%		57.72%
Level 3 | Fair value of property or collateral | Weighted Average | Mortgage loans held for sale
Unobservable Input
Estimated net realizable value	98.25%
Level 3 | Bids or sales contract prices | Other loans held for sale
Fair Value
Other loans held for sale	$ 12,361		$ 28,345
Level 3 | Bids or sales contract prices | Minimum | Other loans held for sale
Unobservable Input
Estimated market value	100%		52%
Level 3 | Bids or sales contract prices | Maximum | Other loans held for sale
Unobservable Input
Estimated market value	104.47%		103.20%
Level 3 | Bids or sales contract prices | Weighted Average | Other loans held for sale
Unobservable Input
Estimated market value	100.48%		84.80%

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Estimated Fair Value and Carrying Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Financial Assets:
Trading securities	$ 16		$ 13
Investment securities held-to-maturity	279,437		490,764
Servicing assets	49,789	$ 49,553	49,520	$ 49,966	$ 49,345	$ 50,921
Level 1 | Fair Value
Financial Assets:
Cash and cash equivalents	740,429		748,173
Investment securities available-for-sale	200,658		296,799
Level 1 | Carrying Value
Financial Assets:
Cash and cash equivalents	740,429		748,173
Investment securities available-for-sale	200,658		296,799
Level 2 | Fair Value
Financial Assets:
Trading securities	16		13
Investment securities available-for-sale	1,895,648		1,802,465
Investment securities held-to-maturity	244,365		455,709
Federal Home Loan Bank (FHLB) stock	15,280		14,488
Equity securities	25,794		23,981
Level 2 | Carrying Value
Financial Assets:
Trading securities	16		13
Investment securities available-for-sale	1,895,648		1,802,465
Investment securities held-to-maturity	303,621		514,024
Federal Home Loan Bank (FHLB) stock	15,280		14,488
Equity securities	25,794		23,981
Level 3 | Fair Value
Financial Assets:
Investment securities held-to-maturity	35,072		35,055
Total loans (including loans held-for-sale)	7,410,349		7,282,214
Accrued interest receivable	72,969		71,400
Servicing assets	49,789		49,520
Accounts receivable and other assets	56,760		47,859
Financial Liabilities:
Deposits	9,622,547		9,767,068
Advances from FHLB	198,937		199,184
Other borrowings	0		2
Accrued expenses and other liabilities	140,410		115,985
Level 3 | Carrying Value
Financial Assets:
Investment securities held-to-maturity	35,000		35,000
Total loans (including loans held-for-sale)	7,503,142		7,401,618
Accrued interest receivable	72,969		71,400
Servicing assets	49,789		49,520
Accounts receivable and other assets	56,760		47,589
Financial Liabilities:
Deposits	9,605,250		9,762,169
Advances from FHLB	200,741		200,768
Other borrowings	0		2
Accrued expenses and other liabilities	$ 140,410		$ 115,985

BANKING AND FINANCIAL SERVICE_3

BANKING AND FINANCIAL SERVICE REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Banking service revenues:
Electronic banking fees	$ 14,718	$ 13,603	$ 28,408	$ 26,969
Checking accounts fees	1,894	2,184	4,061	4,404
Savings accounts fees	307	327	615	660
Credit life commissions	73	119	77	224
Branch service commissions	275	324	621	746
Servicing and other loan fees	1,325	702	1,893	1,584
International fees	184	179	356	362
Miscellaneous income	5	2	9	4
Total banking service revenues	18,781	17,440	36,040	34,953
Wealth management revenue:
Insurance income	4,214	4,169	7,988	7,539
Broker fees	2,009	1,797	4,100	3,580
Trust fees	2,217	2,228	4,459	4,152
Other fees	0	0	0	43
Total wealth management revenue	8,440	8,194	16,547	15,314
Mortgage banking activities:
Net servicing fees	4,101	4,650	8,052	7,493
Net gains on sale of mortgage loans and valuation	719	790	1,372	1,559
Net gain (loss) on repurchased loans and other	44	(215)	133	71
Total mortgage banking activities	4,864	5,225	9,557	9,123
Total banking and financial service revenues	$ 32,085	$ 30,859	$ 62,144	$ 59,390

BUSINESS SEGMENTS (Results of O

BUSINESS SEGMENTS (Results of Operations and Selected Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Interest income	$ 187,658	$ 157,988	$ 371,084	$ 306,973
Interest expense	(40,333)	(18,344)	(79,657)	(31,432)
Net interest income	147,325	139,644	291,427	275,541
Provision for (recapture of) credit losses	15,581	15,044	30,702	24,489
Non-interest income, net	32,476	30,073	62,824	58,974
Non-interest expenses	(92,960)	(88,888)	(184,372)	(179,108)
Intersegment revenue	0	0	0	0
Intersegment expenses	0	0	0	0
Income before income taxes	71,260	65,785	139,177	130,918
Income tax expense	20,129	21,612	38,354	40,516
Net income	51,131	44,173	100,823	90,402
Total assets	11,259,085	10,031,547	11,259,085	10,031,547	$ 11,344,453
Total
Segment Reporting Information [Line Items]
Interest income	188,614	162,846	373,115	316,402
Interest expense	(41,289)	(23,202)	(81,688)	(40,861)
Net interest income	147,325	139,644	291,427	275,541
Provision for (recapture of) credit losses	15,581	15,044	30,702	24,489
Non-interest income, net	32,476	30,073	62,824	58,974
Non-interest expenses	(92,960)	(88,888)	(184,372)	(179,108)
Income before income taxes	71,260	65,785	139,177	130,918
Income tax expense	20,129	21,612	38,354	40,516
Net income	51,131	44,173	100,823	90,402
Total assets	12,452,738	11,092,922	12,452,738	11,092,922
Total | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	415	575	839	1,122
Intersegment expenses	(415)	(575)	(839)	(1,122)
Eliminations
Segment Reporting Information [Line Items]
Interest income	(956)	(4,858)	(2,031)	(9,429)
Interest expense	956	4,858	2,031	9,429
Net interest income	0	0	0	0
Provision for (recapture of) credit losses	0	0	0	0
Non-interest income, net	0	0	0	0
Non-interest expenses	0	0	0	0
Intersegment revenue	(415)	(575)	(839)	(1,122)
Intersegment expenses	415	575	839	1,122
Income before income taxes	0	0	0	0
Income tax expense	0	0	0	0
Net income	0	0	0	0
Total assets	(1,193,653)	(1,061,375)	(1,193,653)	(1,061,375)
Banking | Total
Segment Reporting Information [Line Items]
Interest income	155,681	139,999	306,676	272,424
Interest expense	(37,654)	(15,824)	(73,503)	(28,205)
Net interest income	118,027	124,175	233,173	244,219
Provision for (recapture of) credit losses	15,589	15,052	30,814	24,457
Non-interest income, net	24,723	23,354	47,788	44,979
Non-interest expenses	(87,506)	(83,876)	(173,496)	(169,241)
Income before income taxes	40,070	49,176	77,490	96,622
Income tax expense	20,096	21,577	38,262	40,469
Net income	19,974	27,599	39,228	56,153
Total assets	9,360,801	8,720,156	9,360,801	8,720,156
Banking | Total | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	415	575	839	1,122
Intersegment expenses	0	0	0	0
Wealth Management | Total
Segment Reporting Information [Line Items]
Interest income	4	6	13	11
Interest expense	0	0	0	0
Net interest income	4	6	13	11
Provision for (recapture of) credit losses	0	0	0	0
Non-interest income, net	7,654	7,868	15,029	15,144
Non-interest expenses	(4,623)	(4,138)	(9,145)	(8,093)
Income before income taxes	2,792	3,356	5,387	6,304
Income tax expense	(5)	20	8	20
Net income	2,797	3,336	5,379	6,284
Total assets	36,217	33,946	36,217	33,946
Wealth Management | Total | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0	0	0
Intersegment expenses	(243)	(380)	(510)	(758)
Treasury | Total
Segment Reporting Information [Line Items]
Interest income	32,929	22,841	66,426	43,967
Interest expense	(3,635)	(7,378)	(8,185)	(12,656)
Net interest income	29,294	15,463	58,241	31,311
Provision for (recapture of) credit losses	(8)	(8)	(112)	32
Non-interest income, net	99	(1,149)	7	(1,149)
Non-interest expenses	(831)	(874)	(1,731)	(1,774)
Income before income taxes	28,398	13,253	56,300	27,992
Income tax expense	38	15	84	27
Net income	28,360	13,238	56,216	27,965
Total assets	3,055,720	2,338,820	3,055,720	2,338,820
Treasury | Total | Intersubsegment Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue	0	0	0	0
Intersegment expenses	$ (172)	$ (195)	$ (329)	$ (364)

BUSINESS SEGMENTS (Narrative) (

BUSINESS SEGMENTS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Time Deposits	$ 1,585,544	$ 1,623,639
Eliminations | Treasury
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Time Deposits	$ 302,400		$ 364,200